- China’s aluminium wire exports up 16% in Jan-Apr
- RUSAL invests RUB 500 million in SAYANAL
At close of trading on 31 May 2025, base metals prices on the London Metal Exchange (LME) showed negative trends w-o-w, with zinc witnessing the highest decline of 3.02%. Meanwhile, LME warehouse stocks also exhibited negative trends, with zinc declining the steepest, by 9.35%.
On the LME, three-month aluminium stood at $2,444/tonne (t), down by 0.79%, while nickel decreased by 2.29% w-o-w to $15,237/t. Copper prices were at $9,498/t, down by 1.17% w-o-w, while zinc decreased by 3.02% w-o-w to $2,620/t. Lead was down by 1.66% w-o-w to $1,958/t.
India’s imported aluminium scrap prices exhibited mixed trends w-o-w, influenced by robust global demand, fluctuating LME prices, and ongoing supply constraints.
BigMint’s latest assessments indicate that Tense scrap from the US stood at $1,990/t, increasing by 1.01% w-o-w, while Wheels from the UK stood at $2,520/t, both CFR west coast India.
In the domestic market, Tense scrap prices in both Delhi and Chennai remained steady as compared to last week. According to BigMint’s assessment, domestic Tense scrap stood at INR 196,000/t ex-Delhi-NCR and INR 197,000/t ex-Chennai.
Copper
India’s copper scrap prices remained range-bound this week.
Copper armature scrap was assessed at INR 788,000/t ex-Delhi, drown by INR 2,000/t, while motors mix stood at $1,150/t, fell by 1.70% w-o-w.
Secondary continuously cast rods (CCRs) (99.90%) were assessed at INR 845,000/t ex-Delhi, reflecting a decrease of INR 5,000/t w-o-w. Meanwhile, primary CCR prices remained steady w-o-w at INR 887,000/t.
Zinc
Imported zinc diecast from the Middle East was assessed at $2,150/t CFR Mundra, up by $20/t w-o-w, while domestic zinc ingots stood at INR 260,000/t down by INR 6,000/t.
Zinc ingot prices of Hindustan Zinc Limited (HZL) stood at INR 269,300/t ex-Jodhpur, up by 0.7% w-o-w .
Lead
Domestic primary lead ingot prices remained steady at INR 200,000/t, while re-melted ingots were at INR 182,000/t. Meanwhile, HZL lead ingots remained steady w-o-w at INR 200,500/t ex-Jodhpur.
Other market updates
- China’s aluminium wire, cable exports rise 16% in Jan-Apr: China exported 21,300 tonnes of aluminium wires and cable in April 2025, marking a 5.3% decline m-o-m but an 8.43% increase y-o-y. Cumulative exports from January to April reached 82,800 t, up 16.08% from 71,400 t during the same period in 2024.
- RUSAL to boost thin foil output with SAYANAL upgrade: RUSAL is investing RUB 500 million ($5.62 million) to modernize the C-3/2 finishing foil mill at its SAYANAL facility, aiming to increase thin gauge foil output (under 9 microns) by 10-12% and enhance automation for food packaging. Meanwhile, its Ural foil plant will begin thin gauge foil production for the first time.
- Tsingshan Holding, the world’s top stainless steel and nickel producer, has halted some output at Indonesia’s Morowali Park to support prices, which hit five-year lows in April. The move impacts global supply, as China and Indonesia together produce 71% of stainless steel. Tsingshan alone contributed nearly one-third of global stainless output in 2024, per Macquarie.
- Samta Metals & Alloys, a subsidiary of India’s Samta Group, is investing $70 million in a green aluminium and copper recycling facility in Kenitra, Morocco. Spanning 36,600 square meters, the plant is set to commence operations by 2026, utilizing renewable energy to process 35,000 tonnes of scrap annually. The facility aims to produce aluminium ingots and copper rod coils for the automotive, aerospace, and energy sectors, aligning with Morocco’s circular economy goals.
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