- Major Indian automaker cuts ADC12 alloy prices amid easing input costs
- Hindustan Copper, Oil India sign MoU for critical minerals exploration
At the close of trading on 19 September 2025, base metals prices on the London Metal Exchange (LME) remained range-bound w-o-w, with zinc witnessing the highest decline of 2.03% to $2,897/tonne (t). Meanwhile, LME warehouse stocks exhibited divergent trends, with aluminium witnessing the steepest gain of 5.90%.
On the LME, three-month aluminium prices stood at $2,684/t, down by 0.22% w-o-w, while zinc decreased by 2.03% to $2,897/t. Copper prices were at $9,983/t, down by 0.84% w-o-w, and lead was down by 1.34% w-o-w at $1,991/t. Nickel stood at $15,325/t, down by 0.43% w-o-w.
LME aluminium prices rose to nearly $2,700/t in week 37, hitting a six-month high last seen in March, supported by Fed rate cut expectations and supply concerns. Meanwhile, LME copper prices also hit a 15-month peak, as an imminent US Federal Reserve rate cut fuelled optimism across risk assets. LME copper futures climbed up by 1% to $10,173/t, their highest since June 2024, on expectations of a quarter-point cut and possible further easing this year.
India’s imported aluminium scrap prices saw minor fluctuations w-o-w, following a range-bound trend in LME prices. The market remained cautious, with buying activity slowing due to tight cash flow and a persistent price gap between imported and domestic scrap.
In recent times, global aluminium prices have surged on the back of a rare supply squeeze, firm demand, and US tariffs imposed by President Donald Trump. The US Midwest premium has jumped 177% this year, while the LME benchmark is up 17% since April.
Meanwhile, India’s automobile sector showed mixed performance in 8MCY’25 compared to 8MCY’24. As per SIAM OEM data, passenger vehicle sales dipped 1.05% y-o-y to 2.83 million. Meanwhile, FADA retail sales data reflected stronger growth. Passenger vehicles surged 5.02% y-o-y to 2.72 million, while two-wheelers inched up 1.19% to 11.9 million.
Additionally, a major Indian automaker has slightly reduced its ADC12 settlement price by INR 700/t m-o-m to INR 228,900/t for October sales. The marginal dip is attributed to easing raw material costs and anticipated improvement in ADC12 import availability.
Imported copper scrap prices in India remained range-bound w-o-w, following a slight decline in LME futures. Parallelly, domestic copper scrap prices also remained largely stable w-o-w.
According to BigMint’s assessment, Birch/Cliff scrap was at $9,250/t (CFR Mundra), down by $160/t w-o-w, while US motors mix stood at $1,190/t (CFR Mundra), up by $20/t w-o-w.
Domestic copper armature scrap was assessed at INR 820,000/t ex-Delhi and secondary CC wire rods stood at INR 890,000/t ex-Delhi, both largely stable w-o-w, whereas primary CC wire rods stood at INR 928,000/t ex-Delhi, down by INR 3,000/t w-o-w.
India’s zinc scrap and dross market witnessed a slight upward movement this week, with prices strengthening on sustained demand from local processors.
BigMint assessed zinc diecast scrap (Middle East origin) at $2,310/t CFR west coast India, up by $15/t w-o-w, amid steady inquiry levels.
Domestic zinc spot prices edged up by 1.8% w-o-w to INR 306,700/t exw-Delhi. HZL zinc prices were up by 3.4% w-o-w to INR 296,700/t exw-Rajasthan.
Lead
Domestic primary lead ingot prices stood at INR 200,000/t, while re-melted ingots stood at INR 181,000/t, both stable w-o-w.
Meanwhile, HZL lead ingots stood at INR 205,900/t ($2,338/t) ex-Chanderiya, up by INR 1,000/t w-o-w.
Other updates
RBI may follow Fed with rate cuts in Oct, Dec
The US Federal Reserve’s 25-bps cut on 17 September highlights labour market stress and sets the stage for further easing. While the move was largely priced in for Indian equities, cumulative cuts could weaken the dollar and spur foreign inflows into emerging markets. The RBI is expected to mirror the Fed with 25-bps cuts in October and December, supporting liquidity and domestic demand.
Havells India to expand cable plant capacity in Alwar
Havells India has received an offer for the allotment of 1,58,200 square metres of land from the Rajasthan State Industrial Development and Investment Corporation (RIICO) for expanding its cable manufacturing unit in Alwar. The land parcel is located adjacent to the company’s existing facility, where Havells plans to invest INR 715 crore to enhance production capacity and strengthen its presence in the cables segment.
Hindustan Copper signs MoU with Oil India for critical minerals exploration
Hindustan Copper (HCL) has signed an MoU with Oil India to jointly explore and develop critical and strategic minerals, including copper, both in India and abroad. The collaboration, aligned with the National Critical Mineral Mission, aims to secure resources vital for energy security and technological growth. HCL and Oil India will share investments and risks across exploration, mining, and processing, with Oil India committing significant funds towards clean energy and advanced technologies. This follows HCL’s recent agreements with state bodies in Madhya Pradesh and Chile’s CODELCO to strengthen its mineral exploration and processing capabilities.
Leave a Reply