- Glencore secures NIMBA bauxite offtake deal in Guinea
- China’s anode-material production jumps 55% in July
LME base metals traded mixed on 07 August. Zinc recorded the sharpest decline, falling 1.51% d-o-d to $3,707/t. Nickel followed with a 1.44% gain to $17,004/t. Aluminium rose 0.64% to $3,280/t. Meanwhile, copper slipped 0.20% to $14,076/t and lead edged higher by 0.11% to $1,887/t.
LME inventories declined across all major base metals. Copper stocks recorded the steepest fall, down 2.23% d-o-d to 226,650 t. Zinc stocks fell 0.99% to 97,475 t. Lead inventories declined 0.72% to 428,425 t. Aluminium stocks dropped 0.58% to 257,900 t. Nickel inventories eased 0.13% to 264,444 t.
Domestic market overview
India’s non-ferrous scrap market witnessed mixed trends on 07 August. Aluminium tense scrap remained unchanged at INR 245,000/t ex-Delhi and INR 244,000/t ex-Chennai.
Meanwhile, copper armature scrap (Cu 99%) rose by INR 8,000/t, or 0.62%, to INR 1,290,000/t. LME copper slipped 0.20% during the session. Domestic copper scrap prices therefore moved higher despite weaker LME prices.
Other updates
Indonesia’s nickel RKAB revision remains under market focus
Indonesia’s ESDM ministry clarified that an additional 25 million wmt nickel ore quota for a major mine has not yet been approved. However, the possibility of a future RKAB revision remains under discussion. Meanwhile, further quota increases could improve ore availability for Indonesian smelters and ease supply tightness. Therefore, the development could put downward pressure on nickel prices if additional quotas are approved, although the impact will depend on the scale and timing of any revisions.
Guinea selects Glencore as NIMBA bauxite offtaker
Guinea selected Glencore as the offtaker for bauxite from state-owned Nimba Mining. However, final commercial terms are still under negotiation. Nimba has exported around 4 million tonnes in 2026. Meanwhile, it plans to raise exports to 8–10 million tonnes this year and 12 million tonnes in 2027. As a result, the planned ramp-up could add more bauxite to global markets. China remains a major destination for Guinea’s exports. Additionally, Glencore’s involvement could influence the marketing and international flow of Nimba’s material.
Korea Zinc advances US critical-minerals and smelter development
Korea Zinc is advancing its $7.4 billion Project Crucible in Tennessee, with $6.6 billion in planned capital expenditure. The facility is expected to process around 1.1 million tonnes of raw materials annually and produce 540,000 tonnes of non-ferrous products, including an estimated 300,000 t/y of zinc, from 2029. The project will strengthen US critical-mineral processing and reduce reliance on Asian refining networks. Its direct aluminium impact remains limited, but it highlights growing Western investment in strategic non-ferrous capacity.
China’s anode-material production jumps 55% in July
China’s July anode-material production reached 372,500 tonnes, up 55.21% year on year. At the same time, capacity utilisation rose to 83.03%. Strong energy-storage orders lifted August lithium-ion cell production schedules by 7.4% month on month. Moreover, storage cells account for more than 40% of planned output. Overseas energy-storage projects are also supporting demand. Meanwhile, improving synthetic graphite margins indicate better sector conditions. As a result, the trend provides indirect support to aluminium demand from EVs, renewable energy, electrical equipment and grid infrastructure.
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