- Trump plans to levy steep copper import duty
- EGA boosts US recycling capacity by 55,000 t
Base metals prices on the London Metal Exchange (LME) saw mixed trends d-o-d, with zinc increasing by 1.34% to $2,721/tonne (t). Meanwhile, inventories at LME-registered warehouses showed positive movements d-o-d, with copper recording the highest gain of 5.24%.
Indian market overview
In India’s non-ferrous metals markets, BigMint assessed domestic copper armature scrap at INR 815,000/t ex-Delhi, down by INR 2,000/t d-o-d. Aluminium Tense scrap prices remained stable d-o-d, with ex-Delhi at INR 197,000/t and ex-Chennai at INR 200,000/t.
Market updates
Trump says US to impose 50% tariff on copper imports, COMEX futures jump
President Donald Trump announced plans to impose a 50% tariff on copper imports to boost domestic production of the metal essential for electric vehicles, military hardware, and infrastructure. US COMEX copper futures surged over 12% to a record high following the announcement, which came earlier and steeper than expected. Top copper suppliers Chile, Canada, and Mexico are awaiting further details, while concerns remain, given that the US relies on imports for nearly half of its copper needs and has only three smelters.
Emirates Global Aluminium starts production at expanded US recycling plant
Emirates Global Aluminium (EGA) has begun production at its expanded Spectro Alloys recycling plant in Minnesota, adding 55,000 t of secondary billet capacity in the first phase. The site’s total capacity now reaches 165,000 t per year, with full ramp-up expected by early next year. Recycled metal will be sold under EGA’s RevivAL brand. With this, EGA’s global aluminium recycling capacity rises to 195,000 t annually, excluding its 170,000-t UAE plant, set to begin operations in early 2026.
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