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Half of UAE aluminium smelter back online, adding to supply pressure on metal

Emirates Global Aluminium has restarted half of its Al Taweelah smelter in the UAE, a move that could add supply and pressure aluminium prices, TradingView reports.

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what happened

Emirates Global Aluminium (EGA) has brought back half of its Al Taweelah smelter in the United Arab Emirates, according to TradingView. Full output is targeted for early 2027. The plant made about 1.6 million tonnes in 2025. Media reports say 631 of its 1,262 reduction cells are now running.

The site was halted in March after an Iranian attack on the Khalifa Economic Zone in Abu Dhabi forced staff to leave. Aluminium has already dropped from a 2026 peak of $3,800 per tonne to about $3,020. Axis Capital expects a surplus in 2027 and sees LME prices near $2,800 per tonne that year.

The stocks of Hindalco, Vedanta Aluminium and NALCO may react on Friday, October 23. Vedanta Aluminium has lost over 13% so far this month, the weakest performer on the Nifty Metal index, while NALCO is down 9% and Hindalco 6% this year.

why it matters

Aluminium is a key input for Indian producers, so supply news from West Asia quickly feeds into their share prices. In 2026 copper has risen 15% and zinc 18.5%, while aluminium is roughly flat and lagging other base metals. Gold is down 4%, silver 21.5% and iron ore 15%.

market impact

Aluminium and Indian metal stocks: more regional output pressures LME prices and producer shares

tags

StockIndia

instruments

Aluminium (LME)HindalcoVedanta AluminiumNALCO

sources

  1. Here's why Hindalco, Vedanta Aluminium, NALCO shares could see a reaction today — TradingView, 23 October 2026 at 03:03 UTC

prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.

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