Konkola Copper Mines has taken its Nchanga smelter offline for planned maintenance, with the shutdown forming part of a wider cycle of outages across Zambia’s copper-processing sector.
Aluminium Bahrain [Alba] has agreed to acquire Aluminium Dunkerque, the largest primary aluminium smelter in the EU, in a deal valued at $2.2 billion, subject to regulatory approval.
Aluminium Bahrain [Alba] has agreed to acquire Aluminium Dunkerque, the largest primary aluminium smelter in the EU, in a deal valued at $2.2 billion, subject to regulatory approval.
Aluminium Bahrain [Alba] has agreed to acquire Aluminium Dunkerque, the largest primary aluminium smelter in the EU, in a deal valued at $2.2 billion, subject to regulatory approval.
The memorandum of understanding was signed on June 2 in Paris at the Choose France summit held at the Palace of Versailles.
Alba and current Aluminium Dunkerque owners American Industrial Partners first entered an exclusive agreement on March 2, with the share purchase agreement signed on May 6 following completion of the French works council process. French public investment bank Bpifrance will take a 6% stake worth Eur 100 million and a board seat in Aluminium Dunkerque's holding company alongside Alba.
Khalid Amro Al-Rumaihi, Chairman of Alba's Board of Directors hailed the move as one that 'strengthens Alba's presence in global markets and supports its capacity to achieve sustainable growth'. Alba added that 'Aluminium Dunkerque is well-positioned to capitalise on the growing European demand for sustainably produced aluminium,' in a press release on June 2.
Aluminium Dunkerque, located in Loon-Plage, on the northern French coast near the Belgian border, produces approximately 300,000 tonnes of aluminium slabs and alloys annually - primarily serving automotive, transport and packaging end-markets in Europe.
The news of the acquisition comes following a slew of supply disruptions faced by aluminium producers in the Middle East, with Alba operating at around 30% of its own 1.62 million tonne Bahraini nameplate capacity following the Hormuz-driven logistics shutdown and an Iranian strike on its Bahrain site in late March. Alba's Q1 sales volumes fell 17% year on year to 312,563 tonnes, though net profit jumped 316% to $200.3 million on the back of surging LME aluminium prices.
LME aluminium cash prices settled at $3,855/t on Tuesday June 2, soaring from $3,157.50/t on February 27 before the onset of the US-Iran war, as previous speculation of massive physical market disruption becomes an ever-present reality for participants. LME warehouse stocks fell to 335,450 tonnes on June 2, down from 465,550 tonnes on February 27, immediately prior to the onset of the conflict, a decline of approximately 28% in three months and their lowest level since late 2022. The Strait of Hormuz continues to run at a fraction of normal commercial throughput, throttling supply from a region that previously accounted for almost 10% of global aluminium output.
Konkola Copper Mines has taken its Nchanga smelter offline for planned maintenance, with the shutdown forming part of a wider cycle of outages across Zambia’s copper-processing sector.
Weekly review of LME base metals markets covering aluminium, copper, zinc, lead, nickel, and tin, analysing price action, spreads, warehouse stocks, cancelled warrants, and the macro and physical drivers behind trading activity during the week ending 29 May 2026.
LME Nickel closed at $18,540/mt on 21 May, up over $2,200 from its mid-March low. Indonesia accounts for ~60% of supply; and the market has run a surplus for four years. That suggests oversupply, yet physical premiums and warrant data point to tighter conditions, defying the fundamentals.
Weekly review of LME base metals markets covering aluminium, copper, zinc, lead, nickel, and tin, analysing price action, spreads, warehouse stocks, cancelled warrants, and the macro and physical drivers behind trading activity during the week ending 22 May 2026.
