Aluminium prices rose by 0.27% to ₹244.25, driven by supply constraints from major producers and changes in China’s export-related policies. China plans to end tax rebates on semi-manufactured aluminium exports from December, potentially removing five million tonnes from the global market.
Bauxite prices surged to near-record highs, with Chinese smelters facing their lowest ore inventory since 2015. Global primary aluminium output rose 1.3% year-on-year to 6.221 million tonnes in October.
In China, aluminium production reached 3.72 million tonnes in October, up 1.6% from the previous year. Exports of unwrought aluminium and related products from China surged 17% year-on-year to 5.5 million tonnes in the first ten months of 2024.
