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India's top three aluminum players, NALCO, Hindalco, and Vedanta, raised their aluminum ingot and aluminum products prices this week in line with the LME aluminum benchmark price increase. NALCO increased its aluminum ingot price by INR 5,600 per tonne, or 2.6 percent, from the previous week to INR 221,450-224,950 per tonne, effective March 28. NALCO’s aluminum wire rod and billets prices also saw an increase of INR 5,600 per tonne from the previous week.

Alumex PLC, a leading producer of high-quality aluminum profiles and a sister company of Hayleys Group, is focused on enhancing its value-added services to strengthen its position as a top industry exporter. Alumex has been recognized by several prominent award-giving organizations in 2022, and the company is now committed to making a measurable impact on international and regional markets.

On Thursday, March 30th, the LME aluminium began trading at US$2,380.5 per tonne, reaching a high of US$2,400 per tonne and a low of US$2,369.5 per tonne before closing at US$2,386.5 per tonne, showing a slight increase of US$3.5 per tonne or 0.15 per cent.

The LME aluminium cash bid price and official settlement price dropped on Wednesday, March 29th, by US$22 per tonne or 0.93 per cent, closing at US$2,343.50 per tonne and US$2,344 per tonne, respectively.

The demand for aluminium has cooled due to an economic slowdown in the US and Europe.

The increase in global aluminium output occurred at the same time as concerns about reduced demand for the metal due to economic instability. Europe's industrial economy suffered greatly due to the geopolitical-induced energy crisis, while fears of a recession were raised in the US due to inflation and rising interest rates.

The ongoing geopolitical issue between the United States and its allies with Russia over Ukraine has caused uncertainty in the global aluminium sector. The Russian aluminium industry is vital to the country's defence industrial base, and while economic sanctions have been imposed on Russia, none have targeted the aluminium sector until now. In 2018, sanctions were placed on the Russian aluminium giant, Rusal, causing the aluminium market to be shocked and prices to soar.

During January-February 2023, Malaysia ranked first among unwrought aluminium alloy exporters to China

According to the Shanghai Metals Market, Malaysia, Thailand, Vietnam, South Korea, and Pakistan were the five top suppliers of unwrought aluminium alloy to China during January-February 2023. China imported 168,900 tonnes of unwrought aluminium alloy in the first two months of the year, a 39,500 tonne or 18.9% reduction from the same period last year.