- India’s copper scrap imports surge 32% y-o-y in 5MFY’26
- Hydro rebrands Alumetal plants under circular strategy
At the close of trading on 3 October 2025, base metals prices on the London Metal Exchange (LME) showed positive trends w-o-w, with copper witnessing the highest gain of 5.13% to $10,716/tonne (t). Meanwhile, LME warehouse stocks exhibited contrasting trends, with lead witnessing the steepest decline of 8.24%.
On the LME, three-month aluminium prices stood at $2,701/t, up by 2.32% w-o-w, while zinc increased by 4.75% to $3,035/t. Copper prices were at $10,716/t, up by 5.13% w-o-w, and lead was up by 1.05% at $2,020/t. Nickel stood at $15,433/t, up by 1.37% w-o-w.
India’s imported aluminium scrap prices saw mixed trends w-o-w, amid a slight increase in LME prices.
BigMint assessed Tense scrap from the US at $1,975/t, down by $30/t w-o-w, while US Taint Tabor HRB (2-3%) was up $30/t at $2,245/t.
Global metallurgical alumina production was largely stable at 12.49 million tonnes (mnt) in August 2025 against 12.35 mnt in July, supported by steady refinery operations and firm demand, according to the International Aluminium Institute (IAI).
Imported copper scrap prices in India saw an uptrend w-o-w, following a gain in LME copper futures, which hit a 16-month high and remained high, at around $10,260/t currently.
According to BigMint’s assessment, Birch Cliff scrap was assessed at $9,550/t, up by 4% w-o-w, while US motors mix stood at $1,190/t (both CFR Mundra), range-bound w-o-w.
India’s copper trade in the first five months of FY’26 reflects a decisive shift toward scrap, underpinned by policy changes, higher global prices, and the domestic supply gap. Scrap imports climbed up by 32% y-o-y to 193,525 t in April-August 2025 compared with 146,707 t a year earlier.
Zinc
India’s zinc scrap and dross market witnessed an upward movement this week, with prices strengthening on sustained demand from local processors.
BigMint assessed zinc diecast scrap (Middle East origin) at $2,395/t CFR west coast India, up by $40/t w-o-w, amid steady inquiry levels.
Domestic zinc spot prices edged up by 3.1% w-o-w to INR 302,000/t exw-Delhi. HZL zinc prices were up by 2.2% w-o-w to INR 310,100/t ex-Chanderiya.
Lead
The lead market, both globally and in India, remained range-bound w-o-w.
Domestic primary lead ingot prices stood at INR 198,000/t, down by INR 2,000/t w-o-w, while re-melted ingots stood at INR 178,000/t, down by INR 2,000/t w-o-w.
Meanwhile, HZL lead prices were up by INR 5,000/t w-o-w to INR 207,600/t ex-Chanderiya.
Other updates
Alcoa to permanently close Kwinana alumina refinery
Alcoa Corp announced the permanent closure of its Kwinana alumina refinery in Western Australia, resulting in charges of $890 million in Q3. The decision was driven by the facility’s lack of long-term viability, ageing infrastructure, and high operating costs. The closure reduces Alcoa’s global refining capacity to 11.7 mnt amid challenging market conditions and rising costs in Australia’s metals sector.
Hydro to complete integration, rebranding of recycling plant operations
Hydro will complete the integration of Alumetal by early 2026, rebranding its four recycling plants in Poland and Hungary under the Hydro name. With a combined annual capacity of 280,000 t, the move strengthens Hydro’s leadership in low-carbon, scrap-based foundry alloys and supports its circular economy strategy across the European aluminium value chain.
Hindustan Copper posts highest-ever revenue from operations in FY’25
Hindustan Copper Ltd (HCL) posted its highest-ever revenue from operations at INR 2,070.97 crore in FY’25, up 21% y-o-y from INR 1,717 crore in FY’24. Profit after tax (PAT) also surged 42% to INR 468.53 crore, against INR 295.41 crore last year. The strong performance highlights improved operational efficiency and rising demand, making FY’25 a landmark year for the state-run copper miner.
Government sets quality control orders for zinc, lead
The Government of India has introduced stringent Quality Control Orders (QCOs) for refined zinc and primary lead under the Bureau of Indian Standards (BIS) Act. These orders mandate that all refined zinc and primary lead products sold domestically comply with updated Indian Standards — IS 209:2024 for zinc and IS 27:2023 for lead — and obtain BIS certification. The enforcement date is set for 17 April 2026, allowing stakeholders sufficient time to comply.
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