Will Iran’s strikes on Gulf smelters strengthen China’s aluminium trade?
Trump threatens to ‘blow up’ desalination plants in Iran if no deal reached
AI Summary
Iranian attacks damaged major aluminium smelters in the United Arab Emirates and Bahrain over the weekend, potentially disrupting global aluminium supply. Emirates Global Aluminium (EGA) reported significant damage, while Aluminium Bahrain assessed damages and employee injuries. The attacks, claimed by Iran's IRGC as retaliation for attacks on Iranian steel plants, targeted facilities representing nearly 4% of global aluminium production capacity. Analysts at China International Capital Corporation (CICC) suggest the disruption could shift more aluminium production to China, both in the short term and potentially for years, due to the time required to repair the damaged facilities. The attacks also raise safety concerns, potentially leading to further output reductions in the Middle East.
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AI-ExtractedThe two smelters account for a combined 3.9 per cent of global aluminium production capacity.
Aluminium Bahrain said it was assessing the extent of damage at its facility, where two employees were injured.
Emirates Global Aluminium (EGA) reported “significant damage” at its Abu Dhabi site.
Two major Middle Eastern smelters were damaged in Iranian attacks.
Severe damage to production capacity might take years to restore.
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