Leading aluminium producers have delivered exceptional returns in 2026, significantly outperforming the broader market. According to reports from Upstox, National Aluminium Company (NALCO) shares have surged 33% year-to-date, while Aditya Birla Group's Hindalco has gained 12% and billionaire Anil Agarwal-backed Vedanta has advanced 23% compared with an 8% fall in the NIFTY50 index. As of 1:21 pm, NALCO shares traded 0.7% lower at ₹409, Hindalco was up 0.14% at ₹987, and Vedanta rose 0.12% to ₹738.
Aluminium prices have reached near all-time highs globally, driving investor interest in aluminium producers. According to Upstox reports, aluminium futures on the MCX for April 30 delivery advanced as much as 0.6% to ₹356 per kilogram, just shy of ₹370 per kilogram, its lifetime high level. On the London Metal Exchange, aluminium futures advanced to $3,474 per tonne, its highest level since February when it touched a record high of $3,542.15 per tonne. The price surge follows supply chain disruptions after Iran blocked the Strait of Hormuz, an important trading route for minerals, chemicals, and crude oil.
Iran's Revolutionary Guard launched missile and drone strikes against major aluminium plants on March 28, 2026, causing significant damage and injuries. As reported by Upstox, the attacks targeted facilities allegedly linked to the US military, with Emirates Global Aluminium (EGA) reporting significant damage to the Al Taweelah smelter, with full restoration expected to take up to 12 months. The IRGC stated these strikes were in retaliation for attacks on their own industrial infrastructure, specifically targeting sites they claimed were affiliated with the US military.
Despite global market corrections, aluminium prices in India remain firm with tight inventories and geopolitical disruptions continuing to support prices. Strong demand from automotive, infrastructure, and energy sectors is sustaining market sentiment, while supply-side risks keep the near-term outlook cautiously bullish. According to latest market data, NALCO aluminium ingots are priced at ₹362.15 per kg in Faridabad for the IE07 grade with 99.70% purity, reflecting the ongoing price strength across the sector.
The production disruptions in the Middle East are expected to further tighten global aluminium supply, with analysts noting that damage to the two key facilities would impact the region's role as a major low-cost producer. According to Upstox, NALCO has raised its aluminium product prices by ₹7,800-₹8,500 per MT in March amid rising futures prices, supply disruptions and increasing production costs. Aluminium is widely used across transportation, construction, packaging, and critical sectors including solar panels, electrical transmission systems, wind turbines, batteries, and electric vehicles.
