Aluminum At Highs As Supply Squeeze Boosts Alcoa Outlook

Global aluminum prices have surged to multi-year highs above $3,540 per metric ton due to geopolitical disruptions and energy constraints. Bahrain's Alba smelter shut down 19% of capacity due to shipping bottlenecks through the Strait of Hormuz, while Qatar's Qatalum reduced output to 60% after gas supply suspension. These Middle East disruptions, combined with China's production caps and AI data center energy demand, have tightened supply. Analysts have upgraded Alcoa's outlook, with JPMorgan raising it to neutral and UBS raising its price target to $70.

03/16/2026, 7:12 AM • Benzinga

Rio Tinto, Glencore Merger Could Trigger A Significant Asset Spin-Off

Rio Tinto and Glencore are exploring a $200 billion merger with plans to spin off coal assets into a separately listed Australian vehicle. The combined entity would become the world's dominant copper producer with ~7% of global output, capitalizing on rising copper demand driven by electrification and energy transition. Coal operations, worth tens of billions, represent 8% of combined EBITDA but pose challenges for institutional investors. Rio has until February 5 to make a formal offer.

01/16/2026, 6:51 AM • Benzinga

Trilogy Metals Announces 2026 Program and Budget for Ambler Metals and the Corporate Budget for the Company

Trilogy Metals and South32 have approved a $35 million budget for 2026 to advance the Upper Kobuk Mineral Projects in Alaska, focusing on mine permitting, technical development, and exploration activities in the Ambler Mining District.

12/17/2025, 6:30 AM • Benzinga

AI Is Squeezing Aluminum And Limiting Clean Technology Advances

AI's massive power consumption is disrupting the aluminum industry by outbidding smelters for electricity, potentially constraining global aluminum supply and hindering clean technology development.

12/12/2025, 5:34 AM • Benzinga