【SMM Aluminium Flash News】Indian National Aluminium: Aluminum prices may rise to $3,000 per ton in the next fiscal year.

Published: Dec 24, 2025 09:14

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According to Brijendra Pratap Singh, Chairman and Managing Director of Nalco, aluminum prices could rise to around $3,000 per tonne in the next fiscal year, driven by increased demand and supply constraints. Singh stated that the global aluminum market is expected to experience supply shortages in 2026 and 2027 due to continued demand growth in several sectors, including electric vehicles, construction, and power. On the supply side, Singh pointed out that potential shutdowns at aluminum smelters in Mozambique, Iceland, and Australia, coupled with China's 45 million-ton capacity ceiling, pose a threat to aluminum supply. Due to this supply-demand imbalance, Nalco has raised its 2026 aluminum price forecast from $2,670 per tonne to $2,900-3,000 per tonne. In contrast, Singh stated that the outlook for alumina remains weak. Alumina prices have fallen to around $310-320 per ton and are expected to remain in the $320-330 per ton range next year. He attributed this to oversupply caused by new refining capacity in Indonesia and India, as well as decreased demand following smelter shutdowns. “There is an oversupply of alumina in the market,” he said, adding that this has put downward pressure on prices.

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