- Strong demand and tight supply support domestic prices
- Indian aluminium premiums remain stable at $280-290/t
Domestic aluminium prices in India remained unchanged w-o-w, while MCX and LME aluminium prices declined during the week. Strong demand and tight supply supported the domestic market, although weaker global benchmark prices limited upward price movement.
According to BigMint’s assessment, P1020 aluminium ingot prices in Delhi NCR remained stable at INR 345,000/t, showing no change w-o-w.
How did Indian and global exchanges perform?
Market updates
The domestic aluminium market remained stable during the week, supported by strong demand and tight supply despite declines in MCX and LME aluminium prices. Tight physical availability continued to support domestic market fundamentals, limiting downward pressure on prices.
According to market sources, Q4 2026 MJP negotiations have progressed, with producers confirming a few deals at $255/t CIF Japan, down nearly 35% q-o-q. Three deals were concluded on 7 October 2026, covering a total volume of 2,000-3,000 TPA for Q4.
Japanese demand for imported aluminium remains weak amid ample domestic availability. Premiums are expected to face further downward pressure into 2027 as Indonesian supply is anticipated to reach more Asian markets.
Outlook
Domestic aluminium prices are expected to remain stable in the near term, supported by strong demand and tight supply. However, weaker global benchmark prices and expectations of further declines in Japanese premiums amid rising Indonesian supply could limit upside.
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