- Offers remain on higher side
- Most OEMs yet to settle Oct prices
India’s aluminium ADC12 alloy ingot prices saw a slight m-o-m increase in October 2025 primarily due to the positive auto demand post the cuts in GST.
BigMint has launched a new price assessment for aluminium ADC12 ingot, ex-Works Pune, in response to consistent market feedback. This new assessment will be aligned with the existing ADC12 automobile-OEM grade benchmarks for Delhi and Chennai and will be updated on a bi-monthly basis, specifically on the 10th and 25th of each month.
BigMint’s monthly assessment for OEM-grade ADC12 showed firm pricing across key regions:
- Delhi: INR 230,000/t, up by INR 1,500/t (m-o-m)
- Pune: INR 230,000/t, reflecting a m-o-m increase of INR 2,000/t
- Chennai: INR 231,000/t, up by INR 500/t m-o-m
These prices are based on 30-day payment terms.
The spread between scrap and semi-finished products saw an increase m-o-m at INR 36,000-38,000/t in both Delhi NCR and Chennai, amid the drop in domestic scrap tags reflected by improved availability in the domestic market.
Meanwhile, three-month London Metal Exchange (LME) aluminium average prices hovered at around $2,723/t in early October, up by 3% from the previous month’s $2,650/t. At the time of reporting, LME aluminium prices had increased to $2,785/t nearly hitting a 3.5 year high amid global supply concerns and anticipation of further rate cuts by the US Fed. Inventories at LME warehouses in October had inched up by 2% to 507,182 t from 496,322 t in September.
Market insights
Offers for ADC12 remained on the higher side in both north, south and western India, hovering between INR 231,000-232,000/t in Delhi and Pune. Meanwhile, around INR 232,000-233,000/t in Chennai.
Bids in the north, south and the western region were heard at INR 228,000-230,000/t ranges.
An alloy maker mentioned, “Most OEMs have yet to finalize October 2025 prices. While earlier the market was on a downward trend, recent firming in offer levels has led to ongoing negotiations and delays in settlements.”
The recent increase in ADC12 offer prices in India has been driven by a surge in auto sales during September, particularly following the government’s Next-Gen GST reforms. Most major automakers across the country reported record-breaking sales during the festive season, and market sentiment remains positive for the coming months. Additionally, supportive scrap prices have further reinforced the upward trend in ADC12 pricing.
A supplier from the South informed BigMint, “He has been quoting INR 232,000/t, whereas prevailing market levels are currently in the range of INR 228,000-230,000/t.”
A market participant quoted, Major automaker expects ADC12 prices to rise in November, likely reaching INR 230,000-232,000/t levels due to strong sales momentum. Spot market prices are currently close to the automaker’s October level of INR 227,000-228,000/t.”
Alloy imports plunge y-o-y
Imports: India’s ADC12 alloy market continued to witness a sharp contraction in imports during the first eight months of 2025 (8MCY’25), with inbound volumes falling 61% year-on-year. Total ADC12 imports stood at 6,750 t, down significantly from 17,485 tin 8MCY’24.
Raw material price trends
In early October, prices of the basic raw material for aluminium alloys, that is scrap, saw an increase m-o-m. US-origin Tense (6-7%) scrap remained stable m-o-m to $2,185/t, while UK-origin Wheels rose by $27/t to $2,605/t. Meanwhile, Zorba 95/5 from the UK stood at $2,130/t CFR west coast, India, up by $34/t m-o-m.
A trader source mentioned, “Despite a rising LME trend, local markets remain subdued. Buyers are reportedly facing cash flow challenges and have temporarily paused or reduced quoting activity in response.”
India’s overall aluminium scrap imports increased by 10% to 1.25 mnt in 8MCY’25 from 1.13 mnt in 8MCY’24. Major importers also scaled up procurement amid a shortage of aluminium scrap during the initial months of the year, particularly following the imposition of US tariffs.
Most grades, except for Talk, witnessed an increase in arrivals in 8MCY’25 despite intense price volatility.
In the domestic market, Tense scrap prices dropped by INR 3,000/t to INR 192,000/t in Delhi, while in Chennai, prices were assessed at INR 192,500/t ex-Chennai. The price decline occurred despite an increase in imported scrap prices, driven by higher LME levels. However, the domestic market told a different story, as improved scrap availability locally helped ease supply pressures.
Silicon price trends
According to BigMint’s assessment, prices of China’s 553-grade silicon rose by $15/t m-o-m to $1,382/t CFR Mundra, supported by improved demand from the alloy segment.
Outlook
ADC12 prices are expected to remain firm across North, South, and Western India, supported by steady festive-season demand. A significant price correction appears unlikely in the near term. The recent GST reduction on passenger vehicles, effective from 22 September, has led to a notable uptick in auto sales, further strengthening buying sentiment across the automotive sector. With improved market momentum, ADC12 prices are likely to hold steady. Additionally, participants are closely monitoring November 2025 price settlements from major automakers, which are expected to influence domestic pricing trends going forward.
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