Indian ADC 12 aluminium alloy ingot prices fell week on week as LME aluminium prices dropped and festive-season demand remained subdued. Ex-works prices in Mumbai and Delhi eased, and export offers on a CIF Japan basis also weakened. Market participants cited a stronger US dollar, elevated US Treasury yields, and concerns over China's demand recovery as key bearish drivers.
Domestic primary aluminium all-in production costs fell modestly in August, driven by lower alumina and pre-baked anode prices, while aluminium spot prices rose, expanding profit margins significantly. For September, costs are forecast to stabilise as alumina supply recovers and power tariffs face upward pressure from coal-price gains.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Aluminium | China | FOB | USD 3,536.50/MT | August 2026 |
| Aluminium | India | CIF | USD 3,627.29/MT | August 2026 |
| Aluminium | USA | CIF | USD 3,692.12/MT | August 2026 |
| Aluminium | Germany | CIF | USD 3,650.09/MT | August 2026 |
| Aluminium | Australia | CIF | USD 3,631.17/MT | August 2026 |
| Aluminium | China | FOB | USD 3,404.03/MT | July 2026 |
| Aluminium | India | CIF | USD 3,510.84/MT | July 2026 |
| Aluminium | USA | CIF | USD 3,591.52/MT | July 2026 |
| Aluminium | Germany | CIF | USD 3,537.66/MT | July 2026 |
| Aluminium | Australia | CIF | USD 3,502.49/MT | July 2026 |
Stay updated with the latest Aluminium prices, historical data, and tailored regional analysis
Asia
In China, the monthly average aluminium prices stood at ~USD 3,404.03/MT (FOB basis) in July 2026. In India, aluminium prices averaged approximately USD 3,510.84/MT (CIF basis) during July 2026. Strong smelter margins after the Middle East disruptions pushed Chinese output to a record 3.98 million tonnes in August, and this supply growth capped the regional rally. Most of that output, however, went to liquid metal for domestic processors, so little castable ingot reached the seaborne market. August imports fell 14.65% year on year, with Russia supplying almost all volumes. Trader inventories kept drawing down as operating capacity neared its policy ceiling, which signals a tightening domestic balance.
Europe
In Germany, aluminium prices were about USD 3,537.66/MT on average (CIF basis) in July 2026. Europe repriced hardest because it lost the most supply from the Middle East curtailments, and buyers competed for the metal that remained available. Demand was only marginally positive, so the move was driven by supply. Visible restarts began easing premium pressure through the quarter. These include Hydro's plan to restart 75,000 tonnes at Slovalco in H2 2026 and Alcoa's completed San Ciprián restart. Reduced output at Qatalum still kept regional supply constrained.
North America
In the USA, the monthly average aluminium price was around USD 3,591.52/MT (CIF basis) in July 2026, the highest among the regions. The 50% Section 232 tariff (rules changed in the previous quarter) kept the regional premium elevated and pulled non-Russian metal across the Atlantic rather than into exchange warehouses. The Midwest premium eased gently into Q3, so delivered costs for US buyers rose less than the benchmark did. Restarts at Lista, Portland and Alumar, along with Alcoa's acquisition of South32's upstream interests, strengthened Western supply. Tariff costs on imported units continued to weigh on the market.
Analyst Insight
According to Procurement Resource, Prices are likely to stay firm, since the return to backwardation signals nearby tightness. Chinese output running at its capacity cap and ongoing Western restarts should limit further upside.
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Asia
In China, the average Aluminium price moved from around USD 3523.92/MT (FOB) in April to ~USD 3515/MT (FOB) in the last month of Q2’26, showing a marginal decrease. Prices of aluminium in the region increased slightly in the beginning of the quarter and eased through the last two months as supply remained adequate and buyers became more cautious. Improving availability and softer procurement from some downstream users restricted producers' ability to sustain earlier gains. In India, the price increased slightly from ~USD 3573.92/MT (CIF) to ~USD 3603/MT (CIF) during the second quarter. Prices of Aluminium remained stable with a slight increase as freight and replacement costs provided support, while construction, electrical and transport-sector demand maintained consumption. Regional import premiums also remained elevated as constrained availability of Western-origin metal tightened alternative supply options.
Europe
During Q2, the price was approx. USD 3644.92/MT (average, CIF) in April and around USD 3636.9/MT in June in Germany. Prices of Aluminium fluctuated in a narrow range during the quarter. Reduced Middle Eastern availability tightened physical supply and increased costs, particularly because Gulf producers previously accounted for around 19% of the EU's externally sourced aluminium ingots. CBAM-related carbon costs also became embedded in regional physical pricing from April. However, weaker industrial purchasing and cautious downstream restocking prevented these supply-side pressures from translating into sustained outright gains. Germany therefore showed a mild correction despite comparatively firm import and regulatory cost conditions.
North America
In the USA, the average Aluminium prices were about USD 3610.92/MT (CIF) in April to roughly USD 3670.4/MT in June, marking an ~1.65% increase. North American conditions remained firm as import tariffs, constrained replacement supply and reduced availability from traditional overseas sources increased landed costs. Around 20% of US ingot imports in 2025 came from the Persian Gulf, leaving the market exposed to Q2 supply disruptions. Domestic production remained insufficient to fully offset import requirements, while automotive, packaging and industrial demand supported purchasing.
Aluminium or aluminum, as a metal, is derived from Aluminium-containing minerals. Small amounts of Aluminium can be easily found in dissolved water. It is light in weight and silvery-white in appearance. The main ore of Aluminium is bauxite. The metal is highly reactive in nature and finds application in a wide range of industries.
Al
Chemicals, Cans, Foils, Kitchen utensils, Window frame, Beer kegs, Aeroplane parts, Electrical transmission lines
7429-90-5, Aluminium, Aluminium Metal, Aluminium Powder
Rio Tinto plc, United Company Rusal Plc, American Elements, PT Timah (Persero) Tbk, Aluminium Corporation of China Limited (CHALCO), Alcoa World Alumina and Chemicals (“AWAC”) (Alumina Ltd)
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Aluminium's production process is carried out by combining two processes, namely, the Bayer process and the Hall-Heroult process. The bauxite ore is processed into alumina by utilising these two processes and finally, the obtained alumina is converted into Aluminium.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
Our Price Analysis Methodology
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