Comparing Aluminium Prices in India: 2024 vs. 2023


Understanding the prices of aluminium is important for those businesses which are dependent upon this metal. aluminium market is dependent upon world events, manufacturing capacities, and also on the consumption. Due to this, it becomes neacessary to get in touch with the present and future prices of aluminium.

Aluminium Price Overview 2023

In march, the war between Russia and Ukraine also led to fluctuations in aluminium prices. Also due to Covid, the production of aluminium is reduced. Russia is third largest producer of aluminium and it faced the disruption in aluminium production. On the other hand, China which is part of 57% of aluminium production and 60% consumption. In India, we witnessed the increase in aluminium prices due to these world tensions. After this China increased the production and the prices fall upto 25%. Balco Aluminium prices were also fall by 30% and the prices of aluminium in London Metal exchange were fallen by 37%.

Aluminium Prices in 2024

Aluminium is light and multi used metal is for different manufacturing sectors. Prejudging the price of aluminium becomes difficult due to many reasons including trade wars, weather conditions, and also many other factors that directly impact the manufacturing. Here is the detailed guide of how the prices of the aluminium will be in 2024 and beyond;

Present Condition (May, 2024)

Bullish Sentiments: In the late 2023, aluminium market faced a bullish trend with the rising prices. This can be attributed as;

Supply Chain Disruptions:

Pandemic related happenings and other geographical tensions affected the aluminium production and also the transportation.

  • Increasing Demand: Due to the attraction towards EV and renewable energy demand had led to increased demand in aluminium.
  • Limited Supply: Construction of new aluminium mines takes time and current production can face limits.

Factors that can Affect the Prices in Future

  • Supply Chain Dynamics: If the supply chain is normal or emergence of new disruptions could lead to increase in prices.
  • Growth in Global Economy: High consumption in the aluminium in the economic growth will lead to the high price in aluminium and results in decrease in the growth and also it led to better prices.
  • Energy Costs: Melting of the aluminium is a process of consuming a lot of energy. Instability in energy prices, affects the production cost especially electricity and ultimately it impacts the aluminium prices trends.


  • Increase in Green Developments: The growing emphasis on green practices might incentivize the investment in more sustainable aluminium production. This could impact the supply and also the prices of aluminium.
  • Technical Advancements: Also, the development in the recycling and also alternative material development could lead to increased demand in aluminium and also in aluminium prices.

Predictions after 2024 and Beyond

  • Short Term Volatility: There is a probability of seeing the unstable aluminium prices in the near future because of world economy and also instability in fulfilment.
  • Long Term Volatility: Many analysts are predicting the bullish outlook for the prices of aluminium. It is mainly due to the increased demand of aluminium due to green initiatives and other developments.

But we must remember that this is just a guess. Unpredictable happenings and fluctuations in market are also affecting the actual prices of aluminium.

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