View full page at metalsmine.com

 

Metal Shock: Gulf's Largest Aluminum Producer Declares Force Majeure

From zerohedge.com

A little more than a week after Emirates Global Aluminum (EGA), the Gulf's largest aluminum producer, halted operations at its Al Taweelah smelter following Iranian missile and drone strikes, EGA has now declared force majeure on parts of its contract book, signaling that supply chain disruptions are spreading beyond energy markets and into industrial metals. Bloomberg obtained new documents showing that EGA invoked force majeure clauses to suspend at least some deliveries after Iranian drone and missile strikes damaged the Taweelah smelter and forced it to shut down operations. EGA is jointly owned by Mubadala ... (full story)

Story Stats

  • Posted:
  • Category: Fundamental Analysis