Shares of NSE‑listed Vedanta Aluminium, Hindalco Industries and National Aluminium Company plunged on Friday, falling 5%, 2.44% and 2.10% respectively, to ₹351.65, ₹863.95 and ₹295.25—marking the steepest move for NALCO in October.
The sell‑off came as Emirates Global Aluminium confirmed that 631 of its 1,262 reduction cells are now back online, a 50% restart of the Al Taweelah smelter. CEO Abdulnasser Bin Kalban said the plant is poised to hit full capacity in Q1 2027, adding a new supply stream to the global market.
Aluminium prices have slipped from a 2026 high of $3,800/tonne to about $3,020/tonne today, a 20% slide that has pressured the three stocks. Axis Capital has forecast a 7% price drop for CY27, setting a $2,800/tonne target on the London Metal Exchange.
The metal’s decline contrasts with copper’s 15% rise and zinc’s 18.5% gain this year, while gold and silver have fallen 4% and 21.5% respectively. Iron ore and steel slid 15% and 1%, underscoring aluminium’s unique supply‑demand imbalance.
Looking ahead, analysts expect the smelter’s full output to materialise early next year, potentially easing supply pressures. Traders will watch for any guidance from the companies in their upcoming quarterly filings, while market sentiment remains cautious amid the projected 7% price decline.