- Easing US-China trade relations support aluminium
- Hindustan Zinc banks on infra-led domestic growth
Base metals prices on the London Metal Exchange (LME) saw positive trends d-o-d, with zinc increasing by 2.98% to $2,819/tonne (t). Meanwhile, inventories at LME-registered warehouses registered divergent movements d-o-d, with zinc recording the highest decline of 1.96%.
Indian market overview
In India’s non-ferrous metals markets, BigMint assessed domestic copper armature scrap at INR 797,000/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
Aluminium rises on trade optimism, Chinese buying
Aluminium prices rose on renewed buying from Chinese traders and optimism over stabilising US-China trade ties, boosting sentiment across base metals. While inventories on the Shanghai Exchange increased, domestic supply remained steady amid production caps aligned with China’s carbon goals. Output dipped in June but posted y-o-y growth for H1. Japan’s Q3 aluminium premiums fell sharply, reflecting weaker demand in Asia.
Hindustan Zinc focuses on expansion
Hindustan Zinc is confident of sustained growth, driven by robust domestic infrastructure demand, ongoing capacity expansion, and a shift toward renewable energy. CEO Arun Misra highlighted that the company aims to finalise its major expansion plans by September, while staying resilient amid global tariff uncertainties and weak Chinese demand. The company sees stable zinc prices and a positive outlook for silver adding to the earnings momentum. Plans for value unlocking and critical minerals further strengthen its long-term strategy.
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