- Aluminium buying activity improves modestly
- Secondary producers continue sourcing scrap despite elevated market levels
India’s imported aluminium scrap prices witnessed a positive trend w-o-w on 24 February 2026, following gains in LME aluminium prices. While some grades saw firm support from steady demand, others experienced modest corrections. Domestic Tense scrap prices also remained firm due to tight local supply conditions.
As per BigMint’s assessment for CFR Nhava Sheva deliveries, UK-origin Zorba 95-5 firmed sharply by $110/t to $2,610/t, and Taint Tabor Clean (Middle East) advanced $85/t to $2,585/t.
LME aluminium gains w-o-w
LME aluminium three-month prices declined by 0.75% w-o-w to $3,074/t on 16 February 2026 from $3,097/t on 23 February 2026. Meanwhile, LME aluminium inventories recorded an outflow of 1.25% or 6,000 t, declining from 479,550 t to 473,550 t over the same period.
LME aluminium prices gained w-o-w as structural supply constraints continued to underpin market resilience. With global aluminium markets tightening and less flexibility to absorb shocks, prices remained supported even after touching a four-year high, reflecting confidence in the underlying fundamentals.
Market insights
India’s imported aluminium scrap prices showed a positive trend w-o-w, supported by gains in LME aluminium prices, with some grades seeing modest corrections while others recorded notable gains.
Buying activity in the aluminium market has shown slight improvement, though bid-offer disparities continue to persist across segments.
Even where prices softened, overseas suppliers largely maintained firm offers, while Indian buyers remained cautious with lower bids, resulting in a wider bid-offer spread and relatively subdued deal activity.
Meanwhile, secondary aluminium producers with long-term OEM contracts continued to secure raw materials to meet their obligations despite elevated scrap prices.
Domestically, scrap prices remained firm, particularly for Tense scrap, supported by tight availability and steady demand for ADC12 alloy. In southern regions, Tense scrap was reported trading at premiums, with offers ranging between INR 221,000-225,000/t ex-Chennai.
Chinese silicon prices
According to BigMint, China-origin silicon metal 553 prices stood stable at $1,340/t w-o-w on a CFR Nhava Sheva basis.
Outlook
In the near term, imported aluminium scrap prices are expected to remain around current levels, as LME volatility and a firm dollar may limit upside. Domestic Tense scrap is likely to stay supported due to tight availability and steady demand from secondary producers, particularly in southern India, while bid-offer disparities may continue to influence deal activity.
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