Qatar Aluminium Manufacturing Company (QAMCO), which holds a 50% stake in Qatalum, confirmed on Sunday June 14 that the marketing and offtake arrangements with Hydro Aluminium AS, Qatalum's marketing agent, have been terminated.
Export restrictions and carbon pricing are reshaping who can access European aluminium scrap. Domestic remelters are gaining ground that they previously ceded to Asian buyers. But contamination means the discount on secondary metal can only close so far.
LME Aluminium cash prices slid to three-week lows and settled at $3,498.50/t on Thursday 11 June 2026, down sharply from the four-year high of $3,795.50/t reached just ten days earlier on Monday 1 June 2026.
Qatar Aluminium Manufacturing Company (QAMCO), which holds a 50% stake in Qatalum, confirmed on Sunday June 14 that the marketing and offtake arrangements with Hydro Aluminium AS, Qatalum's marketing agent, have been terminated.
Qatar Aluminium Manufacturing Company (QAMCO), which holds a 50% stake in Qatalum, confirmed on Sunday June 14 that the marketing and offtake arrangements with Hydro Aluminium AS, Qatalum's marketing agent, have been terminated.
Hydro had initially declared force majeure on June 12 following the unexpected termination of their marketing agreement with QAMCO according to media reports. QAMCO said that the public release of the information - which they hadn't expected - prompted their own announcement which was published on the Qatari Stock Exchange on Sunday June 15.
"QAMCO has become aware of public reports regarding the termination of the marketing and offtake agreement, which precipitated the need to make this announcement. QAMCO notes that Hydro and its affiliates are obligated to maintain confidentiality regarding such information and any public release of information is required to be made in coordination with the other shareholder partner… QAMCO is currently investigating the circumstances surrounding the disclosure…" QAMCO said.
This marks the second force majeure declared this year for Qatalum material, with the first issued on March 3 after the Gulf war disrupted the plant's gas supply, forcing a controlled shutdown. Qatalum has since stabilised at around 60% of its 648,000 tonne nameplate capacity, equivalent to roughly 390,000 tonnes annualised, after QatarEnergy confirmed continued reduced gas supply.
The marketing of Qatalum's production will now be conducted under the terms of the joint venture agreement, with Qatalum assuming responsibility for marketing and sale of its aluminium products on a provisional basis.
QAMCO said it does not expect the termination to have a material adverse impact on Qatalum's financial or operational performance, and that it continues to engage constructively with its partner to ensure an orderly transition.
Export restrictions and carbon pricing are reshaping who can access European aluminium scrap. Domestic remelters are gaining ground that they previously ceded to Asian buyers. But contamination means the discount on secondary metal can only close so far.
LME Aluminium cash prices slid to three-week lows and settled at $3,498.50/t on Thursday 11 June 2026, down sharply from the four-year high of $3,795.50/t reached just ten days earlier on Monday 1 June 2026.
May brought a modest increase in China’s copper concentrate imports, but unwrought copper volumes continued to lag last year’s pace.
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 5 June 2026.
Stay connected with our latest developments. Share your details to receive updates and analyses from LME Insight.