Most base metals prices recovered this week. Prices from scrap to finished material moved up by around 2.6%, SteelMint’s assessment shows. Copper primary wire rod prices moved up the most last week. However, primary aluminium ingot and copper armature scrap prices marginally corrected downward by up to 3% while a few aluminium scrap grades remained stable, specifically the tense grades as alloy ingot manufacturers did not experience healthy transactions during the week.
Taint tabor and utensil scrap grades prices improved by up to 2% amid tight supply.Further, primary aluminium producers like Hindalco and Balco reduced P1020 ingot prices by INR 7,250/t last week, whereas, Nalco did not announce any prices since the beginning of the month, as per data maintained with SteelMint.In other base metals like lead and copper, prices moved up by 1.5-3.5% during the week. Trade channels said copper wire rods, including primary and secondary, witnessed adequate transactions across regions.
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