NALCO hikes aluminium ingot price by INR 3,900/t as domestic prices recover

• NALCO partially reverses August price cut
• Exchange inventories down 6% since august start

National Aluminium Company Ltd. (NALCO) has raised its IE10 aluminium ingot price by INR 3,900/t, or 1.1%, to INR 360,100/t. The revised price is effective from 29 August 2026, compared with INR 356,200/t on 21 August.

Global aluminium market remains mixed

The LME three-month aluminium contract stood at $3,242/t in the latest available data, up 0.03% d-o-d from $3,241/t. Prices have increased 1.2% from $3,205/t on 21 August after hitting a low of $3,205/t during the period.

Exchange inventories stood at 246,825 t in the latest available data, down 100 t, or 6%, from 262,650 t from the start of the month. Stocks remain close to their recent lows, providing some support to aluminium prices. Continued inventory destocking is providing some support to aluminium prices. However, weak Chinese downstream demand and uncertainty over the upcoming peak season are limiting the upside.

Domestic aluminium prices remain lower across major producers

The latest trend among domestic aluminium producers is a broad-based recovery in prices, with major players raising their prices again.

From 21 August to the latest available date, BALCO’s P1020 price increased from INR 367,750/t to INR 370,250/t, up 0.7%. Hindalco’s comparable price rose from INR 361,000/t to INR 363,750/t, an increase of 0.8%.

NALCO’s IE10 price increased by 1.1% over the same period, from INR 356,200/t on 21 August to INR 360,100/t on 29 August.

The recovery in domestic aluminium prices broadly follows the rebound in LME aluminium from its 21 August level. However, the increases remain moderate, suggesting that producers are responding to firmer global prices while weak downstream demand continues to limit stronger gains.