Aluminum Prices Surge to Near Four-Year High Amid Middle East Supply Concerns

London. The price of aluminum in the global market has reached its highest level in nearly four years. Prices have climbed due to concerns that supply will be affected following drone attacks on two major producing companies in the Middle East. On Monday, the price of aluminum on the London Metal Exchange rose by more than 3 percent to $3,401 per metric ton.

This is near the highest level in the last four years. Emirates Global Aluminium (EGA), a major producer in West Asia, reported significant damage to its factory in Abu Dhabi.

Similarly, Aluminium Bahrain also stated that it is assessing the damage to its plant. Aluminum is a metal widely used in electronics, packaging, construction, and vehicle manufacturing.

If its supply is disrupted due to the ongoing conflict in West Asia, it could have a widespread impact on the global market. Previously, aluminum prices had surpassed $4,000 per ton after Russia invaded Ukraine in March 2022.