India: NALCO raises aluminium ingot price by INR 6,300/t amid firm LME market

• NALCO raises IE10 aluminium price by 1.7%, effective 11 Sep’26
• LME aluminium gains 1.6% since 1 Sep, while inventories fall 0.9%

National Aluminium Company Ltd. (NALCO) has raised its IE10 aluminium ingot price by INR 6,300/t, or 1.7%, to INR 371,500/t, compared with INR 365,200/t on 8 September. The revised price is effective from 11 September 2026.

The increase follows a firmer global aluminium market. LME prices have remained above $3,200/t amid low exchange inventories and supply concerns linked to Middle East disruptions.

LME aluminium remains firm amid tight supply

The LME three-month aluminium contract closed at $3,294/t on 10 September. This was 1.6% higher than $3,242/t on 1 September. Prices climbed during the first half of the month. They reached a recent high of $3,357/t on 10 September before easing.

Meanwhile, LME aluminium stocks fell to 244,525 t on 8 September. This compares with 246,825 t on 1 September. The drawdown stood at 2,300 t, or 0.9%. Inventories also remain near multi-decade lows, supporting the physical market.

Moreover, global aluminium prices continue to benefit from tight physical availability and Middle East supply disruptions. Crude oil prices above $100/bbl are also raising energy and freight costs. However, China’s high output remains a counterweight. Chinese smelters operated at around 99.7% of effective capacity in August. At the same time, subdued downstream demand could limit further gains.

Domestic aluminium prices continue to rise

Indian aluminium producers have also raised prices during September. The moves broadly track the recovery in global aluminium benchmarks.

BALCO’s aluminium price increased to INR 383,250/t on 11 September from INR 370,250/t on 1 September. The increase of INR 13,000/t represents a gain of 3.5%.

Similarly, Hindalco’s comparable price rose to INR 374,500/t on 10 September. It stood at INR 365,750/t on 2 September. The increase was INR 8,750/t, or 2.4%.

Overall, the latest domestic price increases reflect the firmer global aluminium market. Tight exchange inventories are also providing support. However, LME prices have corrected from the $3,357/t peak. In addition, slower downstream demand in China could limit further gains unless physical supply remains tight.