DBT Bureau
Pune, 29 Jan 2026
According to Kedia Advisory report, aluminium prices surged 4% to settle at ₹331.45, driven primarily by tightening global supply conditions and strong investor positioning. Supply-side pressures intensified following production disruptions at key smelters in Iceland, Mozambique and Australia, constraining near-term availability. Sentiment was further boosted after Goldman Sachs raised its first-half average aluminium price forecast to $3,150 per tonne from $2,575, citing critically low inventories, uncertainty over power availability for new smelters in Indonesia, and robust demand growth from electric vehicles, power grids and energy transition-related sectors. Macro support also came from China, where optimism improved after signals of continued policy easing. The People’s Bank of China reiterated plans to cut reserve requirement ratios and interest rates in 2026, maintaining ample liquidity and supporting industrial activity. On the production front, global primary aluminium output edged up 0.5% YoY to 6.296 million tonnes in December, according to IAI. China’s refined aluminium production hit a record 3.87 million tonnes in December, up nearly 3% YoY, while full-year 2025 output rose around 2–3%, marginally above the capacity cap. Inventory data was mixed, with SHFE aluminium stocks rising 6% last week, while Japanese port inventories increased modestly by 1.5%. Technically, the market is under fresh buying, as open interest rose 12.54%.
NALCO’s share price rose about 23.0%, climbing from ₹330.25 on January 2 to ₹406.20 at yesterday’s close, reflecting strong upward momentum in the stock.
Hindalco’s share price gained about 11.6%, rising from ₹895 on January 1, 2026 to ₹998.70 at yesterday’s close, indicating a strong upward move in the stock.
Disclaimer: This information is for educational purposes only. Please consult your financial advisor before investing in stocks
