- LME aluminium prices climb up by 3% m-o-m
- ADC12 imports plunge 92% y-o-y in 5MCY’25
India’s aluminium ADC12 alloyed ingot prices gained m-o-m in July 2025 across both northern and southern India, according to BigMint‘s benchmark assessments. The rise in pricing was supported by ongoing shortages of aluminium scrap – a key raw material – used in alloyed ingot production.
BigMint’s monthly assessment for the OEM grade of ADC12 stood at INR 232,000/tonne (t) in Delhi and INR 234,000/t in Chennai, both up by INR 2,000/t m-o-m.
The spread between scrap and semi-finished products stood largely steady m-o-m at INR 34,000-35,000/t in both Delhi NCR as well as Chennai.
Meanwhile, three-month London Metal Exchange (LME) aluminium average prices hovered at around $2,590/t in early-July, up by 3% m-o-m from the previous month’s $2,515/t. At the time of reporting, LME aluminium prices had increased to $2,615/t. Inventories at LME warehouses in July had increased by 4% to 367,493 t from 352,656 t in June.
Aluminium prices on the LME rose amid ongoing geopolitical tensions in the Middle East, while China’s aluminium output declined by 3.23% in June due to shutdowns in Shandong. However, overall, Chinese production capacity remained robust, supported by new ramp-ups in Yunnan.
Market insights
Offers for ADC12 remained on the higher side in both north and south India, hovering between INR 234,000-235,000/t in Delhi and INR 235,000-237,000/t in Chennai.
Bids in the north were heard at INR 231,000-233,000/t and in the south at INR 233,000-234,000/t.
A trader from the north noted, “The shortage in scrap persists, and with LME aluminium prices staying firm, scrap tags continue to rise. Sentiment remains mixed – buyers are still hesitant to significantly increase prices despite the LME uptick.”
Tense scrap prices were at INR 197,000/t, but sellers held firm, demanding INR 203,000/t due to tight availability. With a conversion premium of around INR 30,000/t, indicative ADC12 offers hovered near INR 233,000/t.
Meanwhile, in the south, capacity utilisation among major ADC12 producers in Chennai was still heard at 55-60%, reflecting cautious production amid tight raw material availability.
Offers for ADC12 in Chennai stood at INR 238,000/t for 45-day credit payment terms.
Indicative ADC12 prices for 30-day payment terms in the west were heard between INR 231,000-233,000/t ex-Pune.
Alloy imports plunge y-o-y, exports remain nil
Imports: According to BigMint‘s latest data, India’s ADC12 alloy market witnessed a dramatic contraction in imports during the first five months of 2025 (5MCY’25), with inbound volumes plunging by 92% y-o-y. Total ADC12 imports stood at just 751 t, down sharply from 9,963 t in 5MCY’24. The drop was particularly from Malaysia due to BIS certificate issues.
Most of the imported material was from West Africa, while shipments from Malaysia were minimal, limited to a few BIS-certified suppliers.
Additionally, offers for ADC12 from Malaysia were heard at $2,600-$2,620/t CIF Chennai.
Export: India’s exports in 5MCY’25 were nil due to weak export market sentiments as well as strong domestic demand amid prevailing raw material shortages.
Raw material price trends
In early-July, prices of the basic raw material for aluminium alloys, that is scrap, saw a rise m-o-m. US-origin Tense scrap inched up by $35/t m-o-m to $2,020-2,030/t, while UK-origin Wheels rose by $60/t to $2,580/t. Meanwhile, Zorba 95/5 from the UK stood at $2,160/t CFR west coast, India, up by $5/t w-o-w.
In the domestic market, Tense scrap prices in Delhi rose by INR 1,000/t m-o-m to INR 197,000/t, while Chennai saw a larger increase of INR 2,000/t, bringing tags to INR 200,000/t ex-Chennai.
Silicon price trends
According to BigMint’s assessment, prices of China’s 553-grade silicon gained by $70/t m-o-m to $1,280/t CFR Mundra. The spike was primarily due to a slight improvement in demand.
Outlook
ADC12 prices in both north and south India are expected to remain firm, supported by the ongoing shortage of raw material and recent gains in LME aluminium, driven by various macroeconomic factors. The market is also closely monitoring upcoming settlement levels from major automakers for August, with expectations of a potential price increase.
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