Aluminum prices extended their decline from a seven-week high after Emirates Global Aluminium PJSC announced plans to restore production earlier than expected, easing supply concerns in the global market.

The announcement came after one of the Middle East's largest smelters revealed it aims to lift output to pre-war levels by the first quarter of next year, following an Iranian strike that shut down its main facility in March.

This unexpected timeline for production recovery triggered a sharp pullback in aluminum prices on Wednesday, marking the second consecutive day of losses for the metal commodity.

Market analysts suggest the news has significantly reduced fears over a growing shortage of aluminum, providing relief to investors who had been monitoring supply disruptions in the region closely.