Aluminum Market Update | March 2026
March 30, 2026 (Reuters) – Aluminum prices on the London Metal Exchange jumped 6% onMonday, nearing four-year highs after Iranian attacks damaged facilities operated by the MiddleEast’s two largest producers. Benchmark three-month aluminum rose to $1.583 per pound, its highest level since March 19, asEmirates Global Aluminum and Aluminum Bahrain assessed damage from weekend strikes. A move above the March 12 high of $1.609 could push prices to levels last seen during the peakof the COVID-era rally in 2022. Aluminum Bahrain, which operates one of the world’s largest smelters, reported that twoemployees were injured in Saturday’s attack and that damage is still being evaluated. EmiratesGlobal Aluminum also sustained significant damage from missile and drone strikes. Gulf producers, which supply about 9% of global aluminum, have largely been unable to shipthrough normal routes due to disruptions in the Strait of Hormuz following the U.S.-Israeliconflict with Iran.