METALS-Aluminium rises as Middle East supply worries deepen

March 5 (Reuters) - Aluminium prices extended gains on Thursday as concerns grew about supply from the war-torn Middle East after Aluminium Bahrain (Alba) ALBH.BH halted shipments.

The most-active aluminium on the Shanghai Futures Exchange SAFcv1 jumped 3.55% to 25,365 yuan ($3,683.72) a metric ton by 0215 GMT.

The benchmark three-month aluminium CMAL3 on the London Metal Exchange rose 0.81% to $3,369.50 a ton, having touched a near four-year high on Wednesday.

Alba, which operates one of the world's biggest aluminium smelters, declared a force majeure on Wednesday, halting shipments as shipping through the Strait of Hormuz has ground to a near halt.

Iran had earlier closed the key corridor for commodities from the Middle East, vowing to attack any ship trying to cross the strait in response to the U.S. and Israel joint strike.

The Alba news came after Norsk Hydro's NHY.OL announcement of a controlled shutdown of its aluminium joint venture in Qatar, as well as of a force majeure.

The Gulf region supplied 8% of the world's aluminium last year. Analysts at Citi have raised their three-month LME aluminium price target to $3,600 a ton from $3,400 and said prices could climb to $4,000 in a bull-case scenario, citing the war disruptions in Iran.

"Force majeure has now materialised at two Gulf producers, marking a clear shift from risk to realised disruption," Citi said.

Shanghai copper SCFcv1 rose 0.75% to 102,000 yuan a ton, while London copper CMCU3 climbed 0.45% to $13,116 a ton, as investors focused on China's National People's Congress.

China set its economic growth target for 2026 at 4.5%-5%, a slight downgrade from the 5% pace achieved last year, showing tolerance for slower growth.

The country's 15th five-year plan pledged investments in innovation, high-tech industries, scientific research and an increase in household consumption as a share of economic output.

Elsewhere on the SHFE, zinc SZNcv1 rose 1.27%, lead SPBcv1 added 0.30%, nickel SNIcv1 gained 0.71% and tin SSNcv1 jumped 2.48%.

Among other LME metals, zinc CMZN3 rose 0.63%, tin CMSN3 added 0.91%. Lead CMPB3 dipped 0.28% and nickel CMNI3 nudged 0.06% lower.

Thursday, March 5

DATA/EVENTS

0930 UK S&P GLOBAL PMI: MSC COMPOSITE - OUTPUT Feb

1330 US Import Prices YY Jan

1330 US Initial Jobless Clm 28 Feb, w/e

($1 = 6.8857 Chinese yuan)