Century Aluminum jumps 9% on Iran strikes; LME price nears four-year high
Century Aluminum stock jumped 9% after reports that Iranian missile strikes damaged Emirates Global Aluminium and Aluminium Bahrain smelters, which account for roughly 9% of global aluminum output. The London Metal Exchange benchmark climbed 5% to $3,492 per ton, nearing a four-year high, as some facilities trimmed capacity by 19%.
1. Gulf Smelter Damage Incidents
Iranian missiles struck Emirates Global Aluminium and Aluminium Bahrain smelters in the Middle East, potentially disrupting operations at facilities that account for around 9% of global aluminum output.
2. Century Aluminum Stock Gains
Century Aluminum shares climbed about 9% in early trading as market participants responded to concerns over tightened aluminum supply.
3. Global Aluminum Price Surge
The LME aluminum benchmark rose 5% to approximately $3,492 per ton, near a four-year high, after some Gulf facilities cut capacity by about 19%.