Bahrain starts output cuts at world's top aluminum smelter [Fortune]
HONG KONG EX&CL UNSP/ADR (HKXCY)
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Source: Fortune
Recommended Video The company, known as Alba, said it has initiated a shutdown of three production lines, which together represent 19% of its total output capacity of 1.6 million tons a year. The suspension will allow it to preserve its inventory of raw materials and keep other parts of the plant operating as maritime transit through the Strait of Hormuz is affected, it said. Alba's cutback is the latest event in the turmoil that has hit the global aluminum industry, with manufacturers facing a spike in prices and traders expecting widespread supply blockages. Prices on the London Metal Exchange have jumped to the highest level since 2022. Along with other aluminum smelters in the Middle East, state-owned Alba has been facing disruptions to outbound shipments of metal and incoming supplies of alumina feedstock due to shipping standstill at Hormuz. Alba suspended sales to customers earlier this month, while Qatar was forced to halt some aluminum production due to a shortage of n
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