Home - News - The price of aluminum has reached a new high since 2022, and the BMI (Business Impact Model) predicts that there is still a lot of room for further increase.
The price of aluminum has reached a new high since 2022, and the BMI (Business Impact Model) predicts that there is still a lot of room for further increase.
March 16, 2026
Due to the ongoing conflict in the Middle East, local producers are facing a more severe threat of supply disruption. On Thursday, the price of aluminum on the London Metal Exchange (LME) soared to its highest level in nearly four years.
The price of aluminium rose by 2.6% to $3,546.50 per tonne, surpassing the peak set on Monday and reaching its highest level since March 2022. Since the outbreak of the conflict in Iran, the price of aluminium has continued to soar. This conflict has led to the disruption of aluminium supply in the region (accounting for approximately 9% of global production). A large smelting plant in Qatar has already reduced production. Due to the closure of the Strait of Hormuz, other smelting plants are also facing problems with the interruption of the transportation of metals and raw materials.
BMI, a subsidiary of Fitch Solutions, stated in a report that there is still considerable room for the aluminum price to rise, and it is expected to reach $3,700 per ton.
The report also pointed out that the sharp increase in the premiums in the United States and Europe reflects "the growing concerns of Western buyers".
BMI stated that the recent developments have significantly increased the likelihood of supply shortages.
The institution predicts that the global aluminum market shortfall will expand to 1.06 million tons this year.
