Aluminum supply shock prompts western aluminum smelters idled for a long-time to restart production.

The supply shock triggered by the Iran war is prompting the revival of aging aluminum smelters in the West. In the United States, Magnitude 7 Metals is restarting the New Madrid electrolytic aluminum plant in Missouri. Across the Atlantic, Norwegian producer Hydro has announced the partial restart of the Slovalco joint venture electrolytic aluminum plant in Slovakia. These two plants have been completely shut down for several years, victims of low aluminum prices and soaring energy prices after the 2022 Russia-Ukraine conflict. The resumption of production is of great political significance for Washington and Brussels, both of which are eager to reduce their import dependency on this metal widely used in various industrial sectors. While these two initiatives will not have a significant impact on the global landscape, the restart of these "zombie aluminum smelters" demonstrates significant changes in the aluminum market since the outbreak of the Middle East conflict in February of this year.