- Oil prices climb up on supply concerns
- China’s copper imports fall m-o-m in Jul’25
Base metals prices on the London Metal Exchange (LME) saw positive trends d-o-d, with zinc increasing by 1.90% to $2,818/tonne (t). Meanwhile, inventories at LME-registered warehouses saw negative trends d-o-d, with lead recording the highest decline of 2.34%.
Domestic market overview
In India’s non-ferrous metals markets, BigMint assessed domestic copper armature scrap at INR 792,000/t ex-Delhi, up by INR 4,000/t d-o-d. Aluminium Tense scrap prices remained flat by INR 1,000/t d-o-d, with ex-Delhi at INR 196,000/t and ex-Chennai at INR 199,000/t.
Other market updates
China’s copper trade shows contrasting trends in Jul’25
China’s refined copper imports in July 2025 stood at 296,900 t, slipping 1.2% m-o-m but rising 7.56% y-o-y, with the DRC contributing nearly half of total supply. Imports from the Netherlands surged due to Russian copper re-routed from LME warehouses, while Peru’s shipments recovered after smelter maintenance. Meanwhile, exports soared 49.86% m-o-m and 69.13% y-o-y to 118,400 t, driven by strong demand from Taiwan, the US, and South Korea, which together accounted for over 70% of total shipments, reflecting robust overseas appetite.
Oil prices edge higher on supply concerns
Oil prices inched up on Monday as Ukraine’s drone attacks on Russian energy infrastructure, including the Ust-Luga terminal and Novoshakhtinsk refinery, raised fears of supply disruptions. Market sentiment was further supported by hopes of stronger demand after US Federal Reserve Chair Jerome Powell signalled a possible September rate cut, while US officials noted Russia had made “significant concessions” towards a Ukraine settlement.
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