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- LME Aluminum 3M Select trades $13 higher to $3016 at 8:42:31 AM
- (Bloomberg) – Emirates Global Aluminium has restored half the capacity at its main smelter that was hit during the Iran war, as the Middle East’s biggest producer maintained its target of returning to full capability by the first quarter of next year. The company has repaired and restarted 50% of units at the Al Taweelah smelter in the emirate of Abu Dhabi, it said in a statement. EGA’s timelines for returning output from the key facility are crucial for metals traders, though a full recovery of sales will also depend on the easing of shipping disruptions through the Strait of Hormuz. EGA has exported some metal by relying on routes that avoid Hormuz, for example by trucking its products to ports on the UAE’s eastern coast. The company had said in August that it was spending $400 million for repairing the smelter that was struck by Iranian missiles and drones in March. The damage had forced EGA to invoke force majeure clauses to suspend some deliveries from the 1.5 million-ton-a-year facility. “The restoration of Al Taweelah is the biggest challenge we have ever faced as a company,” Chief Executive Officer Abdulnasser Bin Kalban said.
- LME Copper 3M Select trades $-107.25 lower to $14312 at 8:42:39 AM
- CME HRC Steel last traded at $1285 and $-2 lower at 10/20/2026
Price Indications
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