Geopolitical Risk Spikes Metal Prices After Iran Strikes World's Largest Aluminum Smelter in Bahrain

Aluminium Bahrain (Alba), the world's largest aluminum smelter outside of China, has confirmed its facility was targeted in an Iranian attack on Saturday, March 28. The attack, which injured two employees, escalates a month-long regional conflict and threatens significant disruption to the global aluminum supply chain, causing an immediate surge in metal market volatility. Iran's Revolutionary Guards claimed responsibility, stating the attack was retaliation for prior strikes on Iranian steel plants. The incident compounds existing supply pressures, as Alba had already shut down 19% of its capacity in early March due to shipping disruptions in the Strait of Hormuz.