- Novelis upgrades Germany’s aluminium recycling operations
- Australia, Singapore strengthen critical minerals partnership
LME base metals traded mixed on 27 July. Nickel recorded the sharpest decline, falling 1.19% d-o-d to $17,213/t, followed by lead, which slipped 0.63% to $1,891/t. Aluminium was up 0.25% to $3,168/t, copper edged lower 0.09% to $13,733/t, and zinc gained 0.01% to $3,612/t.
LME inventories declined across all major base metals on a d-o-d basis. Copper stocks recorded the steepest fall, declining 1.65% to 276,775 t, followed by aluminium, down 0.87% to 272,775 t, nickel, which eased 0.45% to 267,342 t, zinc, lower by 0.26% to 105,800 t, and lead, which edged down 0.11% to 448,850 t.
Domestic market overview
India’s non-ferrous scrap market witnessed mixed trends on 27 July. Aluminium tense scrap (loose) remained unchanged at INR 253,000/t ex-Delhi and INR 250,000/t ex-Chennai, reflecting subdued buying activity in the domestic market despite mixed movements in international aluminium prices.
Meanwhile, copper armature scrap (Cu 99%), ex-Delhi, declined by INR 6,000/t (0.47%) d-o-d to INR 1,266,000/t from INR 1,272,000/t. Domestic copper scrap prices tracked the marginal weakness in LME copper while cautious procurement also weighed on market sentiment.
Other updates
Australia, Singapore strengthen critical minerals partnership
Australia and Singapore signed an energy security and critical mineral supply chain agreement aimed at strengthening regional cooperation in the sourcing and processing of strategic minerals. The partnership is expected to improve long-term resilience for alumina, nickel, and copper concentrate trade across the Asia-Pacific region, supporting supply chain diversification and enhancing investment confidence in the non-ferrous sector.
India’s services PMI falls to four-year low
India’s services activity slowed sharply in July, with the HSBC Flash Services PMI falling to 53.1, its lowest level since February 2022, reflecting weaker growth in output and new orders. However, economists noted that the slowdown signals moderation rather than a demand collapse, as GST collections, UPI transactions, and card spending continue to indicate resilient consumer spending despite softer business activity.
Vietnam completes domestic aluminium value chain
Vietnam has produced its first domestically made primary aluminium ingots, completing its bauxite-to-aluminium value chain and reducing reliance on imports. The 150,000 t/year Dak Nong Aluminium Smelter is expected to double capacity to 300,000 t/year by end-2026 and reach 450,000 t/year in early 2027, helping cut aluminium imports by an estimated USD 1.5 billion annually while supporting downstream manufacturing sectors.
Novelis upgrades German aluminium recycling facility
Novelis has upgraded the aluminium shredder line at its Nachterstedt recycling facility in Germany through a partnership with Danieli Centro Recycling. The upgrade enhances the plant’s ability to process contaminated aluminium scrap, improves organic contaminant removal, and increases recycled content in finished products, while offline equipment assembly helped minimise installation downtime.
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