Middle East

QatarEnergy, the state-owned shareholder of Qatar aluminium producer Qatalum, has suspended the production of aluminium as the conflict between Iran, Israel and the US intensified, it said on Tuesday March 3.

European and US primary aluminium premiums could see further upside pressure on supply concerns following the closure of the Strait of Hormuz, a key transit corridor for Middle Eastern aluminium exports and alumina imports.

Fastmarkets wishes to clarify that it will not publish its assessments for MB-STE-0782 Steel billet export, fob ports Iran, $/tonne and MB-STE-0781 Steel slab export, fob ports Iran, $/tonne for the week of March 2-8, 2026 due to a public holiday in Iran.

The escalating tensions between Iran and Israel since Saturday February 28 have heightened market concerns over potential disruptions to maritime trade routes, particularly the Strait of Hormuz – a key transit corridor for Iranian material shipments bound for China.

Senior analyst Andy Farida offers reactive analysis on the impact the Middle East conflict could have on the aluminium market

The publication of the affected price was delayed for 2 hours and 5 minutes. The following price was affected: MB-STE-0940 Steel billet, import, cfr Saudi Arabia, $/tonne This price is part of the Fastmarkets steel physical prices package. For more information or to provide feedback on the delayed publication of this price or if you would […]