All non-ferrous metals prices on the London Metal Exchange (LME) saw a negative trend throughout the week.
The dollar index, which measures the currency’s value against a basket of six different currencies, was at 105.26, an increase of 1.2% from the previous week.
Aluminium tense scrap prices remain rangebound w-o-w
India’s domestic aluminium scrap prices inched down by 0.6% to INR 161,000/t ($1,941/t) w-o-w. Sources informed that there has been a selling pressure in the market. Transactions were moderate owing to less buying interest in the week, Steelmint observed.
Aluminium ingots ADC12 prices fell by INR 2,000/t w-o-w to INR 198,000/t ($2,388/t) exw-Faridabad.
Global aluminium scrap market
India’s imported aluminium scrap market witnessed volatility throughout this week due to fluctuations in the major commodity exchanges like London Metal Exchange (LME) and Commodity Exchange Inc. (COMEX). Due to bid-offer disparity and price variations from sellers of different origins, market participants moved to the sidelines for the time being.
US-origin aluminium talk scrap prices are assessed at $4,795/t CFR Nhava Sheva, up by $120/t w-o-w. Aluminium extrusion scrap offers from the Middle East stood at $2,190/t, a decrease of $30/t w-o-w.
Copper scrap prices inch up
Copper armature scrap prices in India remained almost firm w-o-w at INR 696,000/t ($8,393/t) exy-Delhi due to limited activities amid a fall in copper futures. Primary wire rods prices inched up by 1.7% w-o-w to INR 800,000/t ($9,647/t), as per SteelMint’s assessment. Finished product prices increased on buying enquiries especially for finished products despite a slight fall in LME futures.
Zinc prices firm, lead prices inch up
Domestic special high-grade (SHG) zinc ingots prices inched down by 0.3% w-o-w to INR 275,000/t ($3,316/t) exw-Delhi on limited demand and a fall in LME. Furthermore, prices of domestic remelted lead ingots and refined lead ingots inched up by 1.4% on improved trading activities after some weeks.
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