- Tighter customs checks delay Indonesia’s metal exports
- China accelerates infrastructure push with Six Networks
LME base metals traded lower on 24 July. Lead recorded the sharpest decline, falling 0.84% d-o-d to $1,887/t, followed by copper, down 0.73% to $13,645/t. Aluminium slipped 0.71% to $3,160/t, zinc eased 0.53% to $3,592/t, while nickel edged lower by 0.24% to $17,379/t.
LME inventories were largely unchanged d-o-d. Aluminium stocks stood at 275,175 t, nickel at 268,548 t, copper at 281,425 t, zinc at 106,075 t, and lead at 449,325 t, with no d-o-d change reported across the major base metals.
Domestic market overview
Domestic non-ferrous scrap prices were largely stable d-o-d. Aluminium tense scrap remained unchanged at INR 253,000/t ex-Delhi and INR 250,000/t ex-Chennai. Meanwhile, copper armature scrap (Cu 99%) declined INR 16,000/t or 1.2% d-o-d to INR 1,272,000/t ex-Delhi from INR 1,288,000/t.
Other updates
China’s industrial profit growth slows despite Jun’26 increase
China’s industrial profits rose 15.1% y-o-y in June, according to the National Bureau of Statistics (NBS). However, the pace of growth moderated for the second consecutive month as falling energy prices reduced the pricing support that had lifted earnings earlier this year. Despite the slowdown, the data suggests industrial firms continued to benefit from resilient manufacturing activity and policy support.
Indonesia’s metal exports delayed by tighter customs inspections
Indonesia’s exports of key metal products, including alumina and nickel pig iron (NPI), are facing shipment delays after customs authorities introduced stricter inspections for rare earth and radioactive materials such as uranium. The additional screening requirements have slowed export clearances and raised concerns over supply chain disruptions for overseas buyers.
Hindustan Zinc to invest INR 25,000 crore in expansion
Vedanta Group company Hindustan Zinc plans to invest around INR 25,000 crore in the next phase of its expansion programme. The investment will add more than 600,000 t/year of zinc and lead smelting capacity, strengthening the company’s production capabilities, and supporting India’s growing demand for base metals.
China unveils “Six Networks” infrastructure strategy
China has launched an ambitious multi-trillion-dollar infrastructure programme under its latest Five-Year Plan to support long-term economic growth and AI-driven industrial development. The initiative, known as the “Six Networks”, combines investments in power grids, data centres, telecommunications, logistics, transportation and other critical infrastructure into a unified national strategy aimed at strengthening digital and industrial competitiveness.
Leave a Reply