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Aluminium price spikes after Iran strikes hit key Gulf producers

Prices climb as Iranian strikes on key smelters in the UAE and Bahrain, alongside ongoing shipping disruptions, fuel fears of a prolonged global supply shock.

Reuters
Reuters

30 March, 2026

Aluminium price spikes after Iran strikes hit key Gulf producers

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Article Summary
Aluminium prices have soared to a four-year high following Iranian airstrikes on Middle Eastern producers, raising fears of a supply shock. The conflict, coupled with existing production constraints and dwindling global inventories, is pushing prices upwards. Other industrial metals are also performing strongly, supported by signs of increased demand from China, despite supply chain concerns.

Aluminium prices surged to four-year highs on Monday as Iranian airstrikes on two major Middle East producers over the weekend raised the risk of a prolonged supply shock.

Benchmark aluminium on the London Metal Exchange was up 4.7 per cent to $3,453 a metric ton on Monday. Prices of the metal used in the transport, construction and packaging industries touched $3,492 earlier in the session.

The US-Israeli war on Iran and resulting closure of the Strait of Hormuz has already restricted shipments of aluminium to export markets in the US and Europe.

Aluminium Bahrain (Alba), which runs the world’s largest single-site smelter, said it was assessing the damage from the Iranian strikes.

Emirates Global Aluminium (EGA), meanwhile, said its plant sustained “significant damage”.

Read more: Emirates Global Aluminium says its KEZAD site damaged amid Iranian attacks

Alba said this month that it was shutting smelting lines representing 19 per cent of its capacity.

Read more: Bahrain’s Alba confirms Iranian attack on its aluminium facilities

“Iran’s strikes on Middle Eastern aluminium plants are threatening to send a fragile market into crisis, raising the prospect of record prices,” Britannia Global Markets said.

“The conflict’s impact is being amplified because constraints on production elsewhere have eroded global inventories, leaving the market with little buffer against shocks.”

Aluminium prices hit a record $4,073.50 a ton in March 2022 after the invasion of Ukraine by Russia, a top producer of the metal.

Stocks of aluminium in LME-approved warehouses MALSTX-TOTAL have dropped more than 60 per cent since last May to 418,675 tons.

Concerns about severe shortages have pushed the premium for cash metal over the three-month contract to more than $60 a ton, its highest since 2007.

Industrial metals overall were supported by signs of stronger demand in top consumer China.

Analysts expect Chinese factory activity to have expanded in March, ending a two-month contraction, though supply chain shocks from the Iran war cloud the outlook.

Copper was up 0.3 per cent at $12,231 a ton, zinc gained 1.7 per cent to $3,168, lead firmed 0.6 per cent to $1,909 and tin CMSN3 climbed 1.5 per cent to $46,495 while nickel advanced 0.5 per cent to $17,270.

UAE weather to take a turn again: Authorities issue advisory

Sea conditions are expected to be rough to moderate in the Arabian Gulf, while similar conditions will prevail in the Sea of Oman

Gulf Business
Gulf Business

30 March, 2026

UAE weather to take a turn again: Authorities issue advisory

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The UAE will experience fair to partly cloudy skies on Monday, with increasing cloud and possible blowing dust. Winds will be light to moderate. Unstable weather is expected until early April, with temperature fluctuations and a chance of light to moderate rainfall from Tuesday. More intense rainfall is forecast for Wednesday, particularly in northern and eastern areas. Mariners are advised...

Residents across the UAE can expect generally fair to partly cloudy skies on Monday, with cloud cover increasing at times by night, particularly over western regions and offshore islands, according to the National Centre of Meteorology (NCM).

Winds are forecast to remain light to moderate, occasionally freshening and causing blowing dust. In a statement, the NCM said winds will range from north-westerly to south-westerly at speeds of 15 to 25 km/hr, with gusts reaching up to 45 km/hr, a WAM report said.

Read more-High winds hit Dubai: What’s driving unstable weather conditions?

Sea conditions are expected to be rough to moderate in the Arabian Gulf, while similar conditions will prevail in the Sea of Oman.

Unstable weather pattern through early April

The relatively calm start to the week comes amid a broader forecast of unstable weather conditions expected to persist across the UAE until early April.

“The country will experience a noticeable drop in temperatures, followed by relative stability before rainfall chances return midweek,” the NCM said in an earlier statement.

Humidity is expected to increase during morning hours over some internal areas, while skies will remain partly cloudy alongside a general decrease in temperatures.

Midweek rainfall and temperature swings ahead

Looking ahead, weather conditions are forecast to shift beginning Tuesday, when partly cloudy skies may turn cloudier with a chance of light to moderate rainfall across scattered areas. Temperatures are expected to rise slightly during this period.

By Wednesday, conditions are likely to become more intense, with cloudy skies and rainfall that could turn heavy in northern and eastern regions during daytime hours. Temperatures are expected to drop again, particularly in western parts of the country.

Winds during this period will shift from southeasterly to northeasterly, becoming stronger and more variable. Speeds are expected to range between 15 and 25 km/hr, with gusts reaching up to 45 km/h, especially over the sea.

Sea conditions are also forecast to deteriorate, becoming rough to very rough at times in the Arabian Gulf and moderate to rough in the Sea of Oman.

Authorities have advised residents to remain cautious, particularly in open areas where blowing dust may reduce visibility. Mariners are also urged to take note of rough sea conditions, especially during periods of stronger winds.

The NCM continues to monitor developments closely and will issue updates as conditions evolve, particularly as rainfall activity intensifies midweek.

CBSE unveils Class 12 assessment plan after UAE, Gulf exam cancellations

The board has also directed schools to upload final marks between April 6 and April 13, 2026, warning that once submitted, data cannot be altered

Rajiv Pillai
Rajiv Pillai

30 March, 2026

CBSE unveils Class 12 assessment plan after UAE, Gulf exam cancellations
Image: Getty Images/Image for illustrative purpose

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Due to geopolitical disruptions, CBSE cancelled Class 12 exams in West Asian countries. An alternative assessment framework will combine completed exam results with internal school assessments (periodic tests, pre-boards). The framework prioritises student safety and timely results, ensuring fair and unbiased evaluations across multiple student scenarios. Practical and internal assessment marks remain unchanged.

The Central Board of Secondary Education (CBSE) has announced an alternative assessment framework for Class 12 students in West Asian countries after cancelling board examinations due to ongoing geopolitical disruptions.

In a notification dated March 27, 2026, the board confirmed that exams scheduled between March 16 and April 10 across countries including the UAE, Saudi Arabia, Qatar, Kuwait, Bahrain, Oman and Iran have been cancelled due to “extraordinary circumstances.”

The move follows earlier postponements and reflects CBSE’s decision to prioritise student safety while ensuring results are declared on time for higher education admissions.

Assessment to combine completed exams and internal performance

CBSE said results will be calculated using a mix of completed board exam performance and school-based assessments, depending on how many papers each student has taken.

Students who appeared in all registered subjects will have their results based on actual exam performance. For those with incomplete exams, CBSE will rely on internal assessments, including periodic tests, half-yearly exams and pre-board results conducted by schools.

For subjects with higher theory weightage (70–80 marks), the best of three assessments — quarterly, half-yearly or pre-board — will be considered. For subjects with lower theory weightage (30–60 marks), final pre-board exam scores will be used for evaluation.

The board emphasised that the framework aims to ensure “valid, reliable, fair and unbiased results” despite the absence of full examinations.

Multiple student scenarios covered

The notification outlines several categories of students, including those who appeared in all subjects, some subjects, or none at all.

Students with one pending subject under the compartment category will have their results declared based on available performance or will be allowed to sit for supplementary exams scheduled in July 2026.

Meanwhile, candidates who did not appear in any examination conducted up to March 28 will be marked absent and assessed as per CBSE examination by-laws.

No change to practical and internal marks

CBSE clarified that practical and internal assessments — which are conducted throughout the academic year — will remain unchanged, as schools have already uploaded these scores.

The board has also directed schools to upload final marks between April 6 and April 13, 2026, warning that once submitted, data cannot be altered.

More details can be found here.

Bahrain’s Foulath Holding declares force majeure on some operations

The group said it has temporarily suspended certain operational activities until conditions allow a safe resumption

Neesha Salian
Neesha Salian

30 March, 2026

Bahrain’s Foulath Holding declares force majeure on some operations
Image: Foulath Holding website

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Foulath Holding, parent of Bahrain Steel and SULB, has declared force majeure on some operations due to Middle East regional developments. Airspace restrictions, maritime disruptions, and heightened security risks have impacted operations and supply chains. This precautionary measure protects employees and stakeholders while activities are temporarily suspended. Bapco Energies previously declared force majeure following an attack on its refinery.

Bahraini industrial group Foulath Holding, the parent company of Bahrain Steel and SULB (United Steel Company), said on Sunday that it has declared a state of force majeure on selected operations due to ongoing regional developments in the Middle East.

In a statement posted on the company’s website and carried by the Bahrain News Agency, Foulath said rapidly evolving conditions, including airspace restrictions, disruption to certain maritime routes and heightened security risks, have created circumstances beyond its control, affecting operations and supply chains across parts of its business.

Foulath Holding declared force majeure as a precautionary measure

As a result, the group said it has temporarily suspended certain operational activities until conditions allow a safe resumption, noting the decision was taken as a precautionary measure to protect employees, contractors and stakeholders.

The move reflects broader logistical and security challenges for firms in the region as tensions persist and disruptions to transport and supply networks continue.

Foulath said it is monitoring developments and will continue engaging with customers, suppliers and partners.

Earlier in the month, Bapco Energies BSC (Closed), Bahrain’s integrated energy company, declared force majeure on certain group operations following the ongoing regional conflict in the Middle East and a recent attack on its refinery complex.

Pakistan prepares to host peace talks as Iran accuses US of ground assault plans

Iran’s effective blockade of oil and gas shipments through the strait since the US and Israel began attacking the country on February 28

Reuters
Reuters

30 March, 2026

Pakistan prepares to host peace talks as Iran accuses US of ground assault plans

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Pakistan is preparing to host talks to resolve the US-Iran conflict, though neither nation has confirmed attendance. This follows discussions between regional foreign ministers regarding ending the conflict and potentially reopening the Strait of Hormuz. However, the US and Iran maintain firm stances, and recent Israeli airstrikes within Iran, alongside escalating tensions in Lebanon and missile strikes within Israel, complicate...

Pakistan said on Sunday it was preparing to host “meaningful talks” to end the conflict over Iran in coming days even though Tehran said it is ready to respond if the US moves in with soldiers on the ground.

Speaking after talks between regional foreign ministers, Pakistan’s Foreign Minister Ishaq Dar said they had covered possible ways to bring an early and permanent end to the conflict in the region as well as potential US-Iran talks in Islamabad.

“Pakistan will be honoured to host and facilitate meaningful talks between the two sides in coming days, for a comprehensive and lasting settlement of the ongoing conflict,” he said. It was not immediately clear whether the US and Iran had agreed to attend.

Read more-Trump extends deadline for striking Iran’s energy plants into April

The US State Department and the White House did not immediately respond to requests for comment on potential talks in Pakistan.

Complicating Pakistan’s bid are the maximalist positions set out by the US, Israel and Iran on what it would take to end the conflict.

Iran’s parliament speaker Mohammad Baqer Qalibaf earlier accused the US of sending messages about possible negotiations while at the same time planning to send in troops, adding that Tehran was ready to respond if US soldiers were deployed.

“As long as the Americans seek Iran’s surrender, our response is that we will never accept humiliation,” he said in a message to the nation.

Regional powers propose plans to reopen Strait of Hormuz

Initial discussions between Pakistan, Saudi Arabia, Turkey and Egypt had focused on proposals to reopen the Strait of Hormuz to shipping, sources familiar with the matter said.

Iran’s effective blockade of oil and gas shipments through the strait since the US and Israel began attacking the country on February 28 is spreading economic pain around the world.

As the conflict entered its second month, it showed no signs of slowing. Israel’s military said it had launched over 140 air strikes on central and western Iran, including Tehran, over the 24 hours to Sunday evening, hitting ballistic missile launch sites and storage facilities, among other targets.

Iranian state media reported that strikes had hit Mehrabad airport and a petrochemical plant in the northern city of Tabriz.

The director of the World Health Organization said Israel’s expanding military operations in southern Lebanon had resulted in the death of “yet another” health worker after 51 had already been killed. Israel says Iran-backed Hezbollah militants use medical facilities for cover, which the group denies.

A chemical plant in southern Israel near the city of Beer Sheva was hit by a missile or missile debris as Israel fended off multiple salvos from Iran, prompting official warnings to the public to stay away due to “hazardous materials”.

Another missile hit open ground near homes in Beer Sheva, located near several military bases, injuring 11 people.

UAE fuel prices: Are April hikes inevitable after oil surge?

Even though prices have fluctuated during the month, it is the monthly average, not daily swings, that determines UAE fuel rates

Rajiv Pillai
Rajiv Pillai

30 March, 2026

UAE fuel prices: Are April hikes inevitable after oil surge?
Image: Getty Images/Image for illustrative purpose

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Due to a significant increase in global oil prices throughout March, UAE motorists should anticipate higher fuel costs in April. The UAE's monthly pricing structure, influenced by international benchmarks, will reflect this surge. Escalating geopolitical tensions have driven Brent crude up considerably, potentially pushing prices even higher if supply disruptions continue.

Confirmed: UAE fuel prices have risen sharply for April. Read the latest story here.


UAE motorists could face higher fuel prices in April, as a sharp surge in global oil markets during March is expected to feed into the country’s monthly pricing mechanism.

The UAE adjusts petrol and diesel prices monthly in line with international benchmarks. While oil prices have shown volatility in recent weeks, the average price across March remains significantly higher than February, pointing to upward pressure on April retail rates.

Global crude markets have seen an extraordinary spike in March, driven by escalating geopolitical tensions in the Middle East. Brent crude surged above $110–$116 per barrel in recent days, with some estimates showing a monthly increase of nearly 50–60 per cent, Reuters stated.

Analysts also warn that prices could climb further, with options markets signalling the possibility of oil reaching $150 per barrel by April if supply disruptions persist, Reuters further stated.

Even though prices have fluctuated during the month, it is the monthly average, not daily swings, that determines UAE fuel rates.

March vs February: clear upward trend

Fuel prices in the UAE already rose in March after declining earlier in the year:

  • February 2026
    • Super 98: Dhs2.45/litre
    • Special 95: Dhs2.33/litre
    • E-Plus 91: Dhs2.26/litre
    • Diesel: Dhs2.52/litre
  • March 2026
    • Super 98: Dh2.59/litre
    • Special 95: Dh2.48/litre
    • E-Plus 91: Dh2.40/litre
    • Diesel: Dh2.72/litre

This reflects an increase of up to Dhs0.15 per litre for petrol and Dhs0.20 for diesel month-on-month.

The rise was linked to higher oil prices in February, when Brent crude averaged around $68–$73 per barrel, already up from earlier months.

The UAE is preparing to announce new fuel prices for April 2026, effective from the start of the month

Read: ‘Worse than 1970s oil shocks’: IEA chief sounds alarm on Middle East crisis


Confirmed: UAE fuel prices have risen sharply for April. Read the latest story here.


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Aluminium price spikes after Iran strikes hit key Gulf producers