Aluminum prices surged on Wednesday after Qatar's alumium producer halted production, citing force majeure on shipments to customers as the escalating conflict in Iran led to a natural gas shortage in the region.
Qatalum, jointly owned by Qatar’s state-owned aluminum producer and Norwegian Norsk Hydro ASA, began suspending production on Tuesday. It said a resart could take six to twelve months, according to a statement.
Norsk Hydro also has issued a force majeure notice to its Qatalum customers, the statement said.
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