Middle East aluminum industry giant suffers "targeted elimination"! Iranian attack on factory triggers major supply earthquake, LME aluminum prices skyrocket by 6%.

Note that aluminum prices rose by about 6% in early trading on Monday, after Iran attacked two production bases in the Middle East, which may exacerbate supply disruptions in the region that accounts for a significant proportion of global production. Aluminum prices on the London Metal Exchange rose by 6% in early trading to $3492 per ton. Shares of Australian aluminum companies also saw an increase. The largest aluminum producer in the Middle East, Emirates Global Aluminium (EGA), reported significant losses at its plant in Abu Dhabi last Saturday, while the state-owned company Aluminium Bahrain is assessing the damage to its facilities. The conflict in the Middle East has already pushed up the price of aluminum (used for cars, planes, and CECEP Solar Energy battery panels) as smelters in the region are unable to export metal or import raw materials. The latest attacks could worsen the situation, as even if the Strait of Hormuz reopens, supplies may be interrupted for a longer period of time. Middle East aluminum industry in crisis The recent attacks have dealt another blow to the bulk commodities industry in the Middle East. The Strait of Hormuz is effectively blocked, and various commodity producers from energy to fertilizers are unable to export normally. The Middle East region accounts for approximately 9% of global aluminum supply, most of which is currently blocked on the inside of the strait. In addition to shipping interruptions, key industrial facilities have been damaged in the attacks. It is expected that even if the conflict ends, the restoration of production operations will take longer. The damaged Al Taweelah smelter is located in the Khalifa Industrial Zone of Abu Dhabi, near the coast of the Persian Gulf. The plant has a casting metal production capacity of 1.6 million tons by 2025 and is one of two smelters under EGA, with the other located in the Jebel Ali Free Zone in Dubai. EGA stated that at the beginning of the Middle East conflict, the company had stored a considerable amount of metal overseas and had used this portion of the product to maintain supply to customers. As the largest non-energy industrial company in the UAE, EGA is a significant participant in the UAE's commitment to invest $1.4 trillion in the United States over the next ten years. The UAE was previously the second largest supplier of aluminum to the United States, after Canada, and is currently constructing the first new aluminum smelter in Oklahoma in decades.