- Copper slumps nearly 3% on LME amid broad risk-off sentiment
- EAEU, Turkiye ramp up trade curbs against Chinese aluminium
Base metals prices on the London Metal Exchange (LME) fell on 5 June 2026 amid weak market sentiment. Copper recorded the steepest decline, falling 2.96% d-o-d to $13,520/t, followed by aluminium, which dropped 2.02% to $3,592/t. Zinc, lead, and nickel also declined by 1.62%, 0.59%, and 0.58% to $3,530/t, $2,005/t, and $18,581/t, respectively.
On the inventory side, copper stocks registered the sharpest decline of 0.67% d-o-d to 379,975 t, followed by zinc inventories, which fell 0.56% to 111,900 t. Lead and aluminium inventories also edged lower by 0.37% and 0.07% to 312,525 t and 335,200 t, respectively, while nickel stocks remained unchanged at 274,236 t, indicating continued tightness across LME warehouses.
Domestic market overview
India’s non-ferrous scrap prices were largely stable d-o-d. Aluminium tense scrap (loose), ex-Delhi, remained unchanged at INR 304,000/t, while ex-Chennai prices also held steady at INR 307,000/t, indicating balanced regional market conditions.
Meanwhile, copper armature scrap (Cu 99%), ex-Delhi, declined by INR 2,000/t or 0.2% d-o-d to INR 1,274,000/t from INR 1,276,000/t, reflecting slightly weaker copper market sentiment and cautious spot buying activity.
Other market updates
EAEU launches sunset review on Chinese aluminium cookware duties
The Eurasian Economic Commission (EEC) has initiated a sunset review of anti-dumping duties on aluminium cookware imports from China following requests from domestic producers within the Eurasian Economic Union (EAEU). The review covers products under multiple HS codes and will assess whether existing duties should remain in force.
The current anti-dumping duty of 21.89% was imposed in September 2021 after the EAEU concluded that low-priced Chinese imports had caused material injury to regional cookware manufacturers.
EAEU continues anti-dumping duties on aluminium strips from China, Azerbaijan
The Eurasian Economic Union (EAEU) has decided to continue anti-dumping duties on flat-rolled aluminium strips imported from China and Azerbaijan, citing continued risks of injury to domestic aluminium producers. The decision follows a review by the Eurasian Economic Commission (EEC), which found that removing the duties could lead to renewed dumping pressure in the regional market.
The measures are aimed at protecting the EAEU’s downstream aluminium industry from low-priced imports and maintaining fair competition across member countries. The extension reflects ongoing concerns over import pricing pressure and its impact on regional aluminium processing capacity.
Oil prices jump over 3% amid renewed Israel-Lebanon tensions
Crude oil prices surged by more than $3/bbl on 8 June after Israel intensified strikes on Lebanon, raising concerns over broader Middle East supply disruptions. Brent Crude rose to around $97/bbl, while WTI crude climbed up to nearly $93.4/bbl, reversing the previous session’s losses.
Market sentiment remained supported by fears of potential disruptions to oil flows through the Strait of Hormuz amid escalating geopolitical tensions. Continued hostilities between Israel, Lebanon, and Iran outweighed the impact of planned OPEC+ output increases, keeping energy markets volatile.
Turkiye extends anti-dumping duties on Chinese aluminium foil
Turkiye has extended anti-dumping (AD) duties on aluminium foil imports from China following a sunset review, citing the continued risk of injury to domestic producers from low-priced imports. The measure covers certain aluminium foil products used across packaging and industrial applications.
The extension reflects Turkiye’s continued efforts to protect its domestic aluminium downstream industry and maintain fair market competition amid persistent pricing pressure from Chinese exporters.
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