- Hindalco invokes force majeure on extruded products
- Qatalum shutdown tightens global aluminium supply
LME base metals showed mixed trends on a w-o-w basis in the week ended 14 March 2026, reflecting cautious market sentiment across the complex. Aluminium emerged as the top gainer, rising 4.70% to $3,520/t.
Meanwhile, Aluminium prices on the London Metal Exchange rallied sharply last week, averaging around $3,306/t, up $129/t or 4% w-o-w, and briefly touching a near four-year high above $3,400/t amid escalating geopolitical tensions and tightening global supply. The surge followed the shutdown of the Qatalum smelter in Qatar after disruptions in natural gas supply, while Aluminium Bahrain also declared force majeure due to shipping issues in the Strait of Hormuz.
Aluminium
India’s imported aluminium scrap prices recorded a sharp w-o-w rise as of 14 March 2026, supported by gains in prices on the London Metal Exchange and ongoing geopolitical tensions, while domestic Tense scrap prices also remained firm amid tight local supply conditions.
As per BigMint assessment for CFR Nhava Sheva deliveries, US-origin Taint Tabor HRB 2-3% scrap increased by $130/t w-o-w to $2,580/t.
Domestic aluminium prices in India increased w-o-w on 13 March 2026, tracking gains in aluminium futures on the London Metal Exchange (LME) and Multi Commodity Exchange of India (MCX), supported by continued global supply concerns and ongoing geopolitical tensions.
As per BigMint’s assessment, domestic aluminium P1020 ingot prices in Delhi NCR increased by INR 12,000/t
Additionally, Hindalco Industries has suspended sales of extruded aluminium products and invoked force majeure on supply contracts due to disruptions caused by the Iran conflict.
Copper
Imported and domestic copper scrap prices in India moved up w-o-w in the week ended 14 March, supported by a firmer trend on the London Metal Exchange (LME) and improving buying sentiment in the physical market.
Market participants reported relatively tight spot availability as several sellers preferred to hold inventories in anticipation of further price increases.
Domestic brass honey scrap prices in India increased marginally w-o-w, reflecting a balance between tight supply conditions and cautious buying sentiment.
BigMint assessed brass honey scrap, ex-works Jamnagar, Gujarat, at INR 705,000/t on 13 March, up by 0.7% from INR 700,000/t last week.
Zinc
India’s zinc ingot (99.995%) prices declined by INR 800/t w-o-w to INR 334,200/t ex-Delhi, according to BigMint’s assessment on 14 March, reflecting softer domestic sentiment despite relatively firm global cues.
HZL on 12 Mar’26 increases its zinc ingot prices by INR 6,600/t ($71/t) to INR 342,600/t ($3,710/t) compared to the previous revision on 9 Mar.
Lead
Domestic primary lead ingot prices stood at INR 198,800/t, up by 1% w-o-w, while re-melted ingots stood at INR 188,800/t, up by 0.5% w-o-w.
Meanwhile, HZL on 12 Mar’26 reduced lead ingot prices by INR 300/t ($3/t) to INR 208,500/t ($2,258/t)
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