- Aluminium scrap prices rise as tighter supply supports global sentiment
- Copper cathode prices decline despite firmer global benchmarks
LME base metals traded largely firm during the week. Zinc recorded the strongest gain, rising 1.2% to $3,752/t from $3,707/t. Copper increased 0.5% to $14,149/t from $14,076/t. Aluminium declined 0.7% to $3,259/t from $3,280/t, while lead remained unchanged at $1,887/t.
Meanwhile, LME inventories declined across all major base metals. Copper stocks recorded the steepest fall of 6.4% to 212,125 t from 226,650 t. Lead inventories fell 2.6% to 417,075 t from 428,425 t. Aluminium stocks declined 2.4% to 251,700 t from 257,900 t. Zinc inventories also fell 2.2% to 95,350 t from 97,475 t.
Aluminium
India’s imported aluminium scrap prices increased w-o-w, supported by firmer global market sentiment and tighter availability across key exporting regions.
According to BigMint’s latest assessment for CFR Nhava Sheva deliveries, UK-origin Zorba 95-5 scrap prices increased by $15/t w-o-w to $2,765/t, from $2,750/t in the previous week.
Trading remained selective, with buyers cautious about committing to fresh volumes amid uncertainty over the direction of LME aluminium prices.
Domestic aluminium prices in India strengthened w-o-w, supported by higher MCX prices and improved replacement costs.
According to BigMint’s assessment, P1020 aluminium ingot prices in Delhi NCR increased by INR 10,000/t (2.8%) w-o-w to INR 362,000/t, from INR 352,000/t a week earlier.
Copper
Domestic copper scrap prices in India edged higher during the week. The rise was supported by firmer LME and MCX copper prices. Tightening global raw material availability also provided support. The Democratic Republic of Congo’s ban on copper concentrate exports added pressure to an already constrained market.
As per BigMint’s assessment, copper armature scrap, ex-Delhi, decreased by around 0.4% w-o-w to INR 1,285,000/t. It was INR 1,290,000/t in the previous week.
Copper cathode prices in western India declined during the week. This was despite higher benchmark copper prices. Elevated price levels kept downstream buying cautious.
As per BigMint’s assessment, ex-Mumbai copper cathode prices declined to around INR 1,368,000/t. They were nearly INR 1,395,000/t last week.
Zinc & lead
India’s zinc dross and zinc oxide prices increased in the week ended 14 August 2026. The rise was supported by higher benchmark zinc prices, lower LME zinc inventories, and firmer replacement costs. Downstream demand remained measured. However, sellers continued to hold firm offers as improved cost economics limited scope for price reductions.
Domestic zinc dross prices increased by INR 5,200/t w-o-w to INR 330,000/t ex-Delhi, compared with INR 324,800/t in the previous assessment period.
Zinc oxide (99% Zn) prices also moved higher, rising by INR 4,300/t w-o-w to INR 315,000/t ex-Delhi, against INR 310,700/t a week earlier.
Meanwhile, Hindustan Zinc Ltd (HZL) on 13 August 2026 raised zinc ingot prices by INR 300/t ($3.30/t) compared with its previous revision announced on 10 August.
Following the latest revision, HZL’s benchmark Special High Grade (SHG) zinc ingot prices increased to INR 406,500/t , while lead ingot prices stood at INR 213,800/t ($31.90/t), up by INR 2,900/t from INR 210,900/t previously.
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