Aluminium Market Update – 9 November 2026

The raw‑material price for aluminium on the CME exchange closed at USD 3,236.25 on 5 November 2026. Over the past 52 weeks the contract has ranged from a high of USD 4,195 (26 May 2026) to a low of USD 2,684 (17 November 2025), indicating a moderate upward trend.

Corporate Drivers

Hindalco Industries (Aditya Birla Group)

  • Q2 FY27 results (September quarter) – Hindalco reported a 58.8 % year‑on‑year increase in consolidated net profit to ₹7,533 crore (USD ≈ $1.04 bn).
  • Revenue rose to ₹92,651 crore (USD ≈ $12.8 bn) from ₹66,771 crore a year earlier.
  • Despite the strong earnings, the company’s shares fell 3 % on 9 November 2026, trading as low as ₹919.30 (NSE).
  • Brokerage sentiment remained bullish; analysts maintained positive ratings after the earnings announcement.

The earnings report underlined Hindalco’s solid performance in its aluminium and copper businesses and the contribution of its subsidiary Novelis. The decline in share price appears to be a market correction rather than a reflection of fundamental weakness.

Quality Power Electrical Equipments Limited

On 7 November 2026, the company released the transcript of its Q2 FY27 earnings conference call. The call, held on 2 November at 12.30 P.M. IST, covered unaudited standalone and consolidated financial results for the quarter ending 30 September 2026. The transcript is available on the company’s website and has been submitted to the National Stock Exchange in compliance with SEBI regulations. No material financial details were disclosed in the provided excerpt.

Industry Developments

Mingtai Aluminium Co., Ltd. (河南明泰铝业股份有限公司)

  • Third‑quarter 2026 performance – Mingtai reported a 23.13 % year‑on‑year increase in operating revenue to CNY 31.859 billion and a 36.5 % rise in net profit to CNY 1.917 billion.
  • Quarter‑on‑quarter, revenue grew 21.03 % (CNY 10.74 billion) and profit 9.93 % (CNY 510 million).
  • Cash‑flow pressure increased; operating‑cash‑flow net decrease of CNY 452 million (‑46.8 %) was attributed to higher commodity purchases and longer payment terms from new high‑end customers.
  • Management highlighted a strategy of prioritising orders with favourable cash‑collection terms, tightening payment‑to‑receiving cash ratios, and reinforcing receivables management.
  • The company continues to pursue a high‑end aluminium transformation, focusing on automotive panels, battery materials, and robotic aluminium components, while expanding its overseas production footprint, beginning with a Korean base.

These developments illustrate a broader industry shift toward high‑value aluminium products and integrated recycling and production chains.

Market Implications

The recent earnings announcements and operational updates from major aluminium producers reinforce the narrative that aluminium demand is growing, particularly in high‑technology sectors. While the CME price remains below its 2026 high, the upward trajectory and corporate earnings suggest continued resilience in the market. Investors and analysts will monitor how companies manage cash‑flow dynamics amid higher production costs and whether the high‑end strategy yields sustained profitability.