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- LME Aluminum 3M Select trades $-29 lower to $3281.50 at 8:52:13 AM
- (Bloomberg) – Aluminum fell for a second day after one of the Middle East’s biggest smelters announced plans to restore production earlier than expected, blunting fears over a growing shortage of the metal. Emirates Global Aluminium PJSC aims to lift output to pre-war levels in the first quarter of next year after an Iranian strike shut its main smelter in March. The announcement helped trigger a sharp pullback in aluminum prices on Wednesday. China’s aluminum stocks also declined notably on Thursday, with China Hongqiao Group Ltd. closing down 7% in Hong Kong, the biggest decline in nearly two months. Aluminum Corp. of China Ltd., the country’s top producer, dropped 6%. Before Wednesday’s slump, the metal had gained for seven straight days as Iran and the US appeared to move further away from a deal to reopen the Strait of Hormuz, a major export route for the region’s smelters prior to the conflict. Aluminum stockpiles on the London Metal Exchange are at their lowest since 1990. Adding to supply-side pressure, the owners of Australia’s biggest aluminum smelter on Thursday secured a A$2.5 billion ($1.8 billion) government bailout that will allow operations to continue. While the rescue package for the 590,000-tons-a-year Tomago smelter wasn’t a surprise, it underscores a broader push by governments to prop up loss-making capacity. “Aluminum is now at a relatively high level,” Chaos Ternary Futures Co. said in a note on Thursday. “As the supply-demand balance gradually turns to surplus, aluminum prices are going to face downward pressure in the medium term.” The metal fell 0.8% to $3,285.50 a ton on the LME as of 12:17 p.m. local time. Other base metals also traded lower, with copper down 0.4% and zinc retreating 0.7%.
- LME Copper 3M Select trades $-8.50 lower to $14124 at 8:52:18 AM
- CME HRC Steel last traded at $1196 and $1 higher at 8/12/2026
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