Middle East

Until now, aluminium has been hard to move, not hard to find. Global aluminium supply had remained technically intact, even as output was curtailed in parts of the Gulf, inventory buffers were drawn down or repositioned, and shipping through the Strait of Hormuz was severely disrupted.

Global aluminium producers face heightened uncertainty over power supplies, with oil and gas prices elevated by the closure of the Strait of Hormuz, through which around 20% of global oil and liquefied natural gas (LNG) flows, sources told Fastmarkets.

Fastmarkets has suspended the monthly price assessment for CFR Jebel Ali, UAE, steel sections (light and medium), S235-SS400 amid the escalation of the conflict between the US, Israel and Iran and because relevant pricing data is not immediately available.

Fastmarkets is amending its pricing schedule for Egyptian steel semis and longs for the week of March 12-19 2026, owing to the holiday declared for Eid al-Fitr.

The aluminium market is being pulled in two directions by the Middle East conflict: upstream feedstocks sit in temporary buffer stocks, while delivering metal to consuming regions is becoming increasingly difficult.

The Mexican aluminium market might be strongly affected by the closure of the Strait of Hormuz, with supply constraints and consequently higher premiums, market participants told Fastmarkets on Tuesday March 10.