Aluminum prices climbed to their highest levels since 2022 after Aluminium Bahrain BSC declared force majeure on some customer deliveries. The Middle East supplier cited transit disruptions through the Strait of Hormuz, where outbound shipments have been effectively halted amid the Iran conflict. The force majeure declaration follows earlier Bloomberg reporting on the company's supply challenges.

Prices jumped as much as 5.1% in London, marking the biggest daily gain since November 2024. Aluminum, the most ubiquitous industrial metal after steel, has faced periodic supply shocks that expose fragilities in the global network of mines, refineries, and smelters. The current crisis has traders and investors scrambling to assess both short and long-term market implications.

With Alba confirming the force majeure relates to transit issues rather than facility damage, the market response has been swift. Prices rose 4.1% to $3,383.50 a ton on the London Metal Exchange, extending weekly gains to nearly 8%. The surge comes as manufacturers across Europe, Asia, and the US face potential shortages, while other regional producers like Qatar's state-owned smelter have already cut output.