Aluminum prices rise as a smelter in Qatar begins controlled production shutdown.

The price of aluminum rose during the Asian trading session, with the three-month aluminum contract on the London Metal Exchange increasing by 0.5% to $3,268.00 per ton. Analysts from the research department of ANZ Bank stated in a report that due to further disruptions in Middle East supply, aluminum prices may be on the rise. These analysts pointed out that the aluminum smelting plant Qatalum, a joint venture between Qatar and Norway's aluminum industry, began controlled shutdowns on Tuesday and stated that full production recovery would take 6 to 12 months. Earlier, Iran's drone attacks also forced the closure of Qatar's liquefied natural gas facilities. The analysts added that the tight supply of aluminum is leading consumers to withdraw aluminum from exchange warehouses.