- LME warehouse inventories remain largely stable
- EGA posts 70% rise in low-carbon aluminium sales
Base metal prices on the London Metal Exchange (LME) traded sharply higher d-o-d as of the close of trade on 25 February 2026, supported by renewed buying interest and improved risk appetite. Aluminium surged 3.04% to $3,171/t, copper gained 2.39% to $13,323/t, zinc edged up 1.12% to $3,389/t, and lead jumped 4.60% to $1,991/t, while nickel advanced 2.84% to $18,085/t.
Warehouse inventory movements were largely stable. Aluminium stocks stood at 471,550 t, nickel inventories declined by 0.17% at 287,328 t, and zinc stocks held steady at 101,250 t. Meanwhile, copper inventories were unchanged at 243,175 t, while lead stocks stood at 286,325 t.
Domestic market overview
Domestic non-ferrous scrap prices in India showed firm undertones across key markets, supported by steady buying interest. Aluminium tense scrap (loose), ex-Delhi, edged up 0.2% to INR 218,500/t, while aluminium tense scrap (loose), ex-Chennai, remained stable at INR 225,000/t.
Similarly, copper armature scrap (Cu 99%), ex-Delhi, increased by INR 5,000/t or 0.4% to INR 1,132,000/t from INR 1,127,000/t, reflecting improving demand and supportive copper market sentiment.
Other market updates
Lineage Power wins INR 158.71 crore Li-ion battery order from Reliance
Lineage Power has secured an INR 158.71 crore contract from Reliance Industries Limited for the supply of 50,000 units of 48V 15S1P 314Ah industrial-grade lithium-ion battery packs to support telecom backup infrastructure. The order, scheduled for execution by 31 August 2026, highlights India’s expanding energy storage and critical infrastructure space, reflecting rising demand for reliable backup power solutions.
EGA reports record low-carbon aluminium sales, signalling demand strength
Emirates Global Aluminium (EGA) reported a 70% increase in sales of low-carbon aluminium products to 196,000 t in 2025, including a jump in CelestiAL solar aluminium volumes and higher recycled aluminium sales. The strong uptake of sustainable and value-added aluminium underscores robust demand trends and long-term market confidence, complementing price stability and supportive sentiment in global non-ferrous markets.
INOX Air Products partners with TACC for battery-grade graphite project in MP
INOX Air Products has partnered with The Advanced Carbons Company (TACC) to support its upcoming greenfield lithium-ion battery-grade graphite anode facility in Dewas, Madhya Pradesh. Under a build-own-operate (BOO) model, INOX will install and operate a dedicated onsite nitrogen plant to ensure continuous high-purity gas supply for EV battery material production. The project aims to enhance process efficiency, product quality, and strengthen India’s clean energy supply chain.
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