The effect of the Middle East conflict, fuelled by Iran’s drone and missile strikes on the facilities of Emirates Global Aluminium (EGA) and Aluminium Bahrain (Alba) on March 28, reflected starkly on the London Metal Exchange (LME) aluminium prices closing on March 30. Nearing four-year highs out of intensified supply disruption fears, cash price saw steep hikes, futures contract recovered from the previous declines, soaring considerably, while opening stocks continued to slide.

The LME aluminium cash bid as well as offer prices surged by a staggering 5.81 per cent on March 30. The bid price climbed from USD 3,290 per tonne on March 27 to USD 3,481 per tonne as the offer price rose from USD 3,292 per tonne to USD 3,482 per tonne.  

To know more about the global primary aluminium industry 2026 outlook, book the report “Global ALuminium Industry Outlook 2026”.

In the forward market, the three-month LME aluminium contract recovered from the decline in figures at the close of the previous session. The three-month benchmark hit a two-week high of around USD 3,492 at the start of the March 30 session, the figure having previously appeared on the close of the March 12 session.   

The three-month bid price inched up further from USD 3,240 per tonne on March 27 to USD 3,424 per tonne on March 30, recording a 5.7 per cent gain. The offer price improved from USD 3,242 per tonne to USD 3,425 per tonne, gaining 5.6 per cent.

Don’t miss out- Buyers are looking for your products on our B2B platform

The December 2027 prices surpassed the USD 3,000 per tonne post Iran’s attacks on the EGA and Alba facilities. Both of the bid and the offer prices increased by 3.06 per cent. The bid price jumped from USD 2,938 per tonne to USD 3,028 per tonne, as the offer price surged from USD 2,943 per tonne to USD 3,033 per tonne.

The LME aluminium 3-month Asian Reference Price stood at USD 3,401 per tonne on March 30, compared to USD 3,296 per tonne on March 27, indicating another 3.19 per cent increase.

Must read: Key industry individuals share their thoughts on the trending topics

In stark contrast to the sweeping gains in the aluminium prices, on the inventory front, LME aluminium continued down the declining trend. Opening stock closed at 420,875 tonnes on March 30 compared to 423,075 tonnes on March 27, slipping 0.52 per cent. Live warrants, dropping to 272,325 tonnes from the previous day’s close at 272,825 tonnes, marked a 0.18 per cent decrease. Similarly, cancelled warrants dropped to 146,350 tonnes from 148,050 tonnes, reflecting another 1.15 per cent decline. 

Meanwhile, the LME alumina Platts price settled at USD 306.93 per tonne, rising from USD 307.11 per tonne on the previous close by 0.06 per cent. 

Trading aluminium across borders? Find out the exact cost you need to bear for the embedded carbon in the product by using this CBAM calculator.

Image for referential purposes only