- Copper shipments in Peru face protest roadblocks
- Rio Tinto-led unit ramps up aluminium capacity
Base metals prices on the London Metal Exchange (LME) saw positive trends d-o-d, with zinc increasing by 1.60% to $2,758/tonne (t). Meanwhile, inventories at LME-registered warehouses also saw positive trends d-o-d, with aluminium recording the highest gain of 2.29%.
Indian market overview
In India’s non-ferrous metals markets, BigMint assessed domestic copper armature scrap at INR 823,000/t ex-Delhi, up by INR 4,000 /t d-o-d. Aluminium Tense scrap prices stood at INR 197,000/t ex-Delhi, stable d-o-d, and INR 200,000/t ex-Chennai, up by INR 2,000/t.
Market updates
Peru copper corridor blocked, major miners’ output at risk
Protests by informal miners have blocked Peru’s vital copper corridor, disrupting transport for MMG, Glencore, and Hudbay. The blockade risks halting ore shipments and could trigger production cuts if prolonged. As the world’s second-largest copper producer, Peru faces threats to mining output and export revenues amid rising tensions in key regions.
Alouette to invest $1.1 billion in Quebec smelter
Aluminerie Alouette, partly owned by Rio Tinto, plans to invest up to $1.1 billion to modernise its aluminium smelter in Sept-Îles, Quebec. The move follows a new power deal with Hydro-Quebec and aims to strengthen North American supply amid US aluminium tariffs. The smelter, with a 630,000-t annual capacity, employs about 900 people. Quebec, producing 70% of North America’s aluminium, remains a key supplier to the US. The consortium also includes AMAG Austria Metall AG and Hydro Aluminium of Norway.
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