- BALCO produces first metal from new smelter
- India’s copper scrap imports jump 33% y-o-y
At close of trading on 17 October 2025, base metals prices on the London Metal Exchange (LME) showed negative trends w-o-w, with lead witnessing the highest decline of 2.13% to $1,978/tonne (t). Meanwhile, LME warehouse stocks exhibited positive trends, with lead witnessing the highest gain of 6.33%.
On the LME, three-month aluminium prices stood at $2,765/t, up by 0.62% w-o-w, while zinc decreased by 1.63% to $2,953/t. Copper prices were at $10,574/t, up by 0.53% w-o-w, and lead was down by 2.13% at $1,978/t. Nickel stood at $15,130/t, down by 0.98% w-o-w.
India’s imported aluminium scrap prices remained rangebound w-o-w, though London Metal Exchange (LME) benchmarks witnessed slightly positive movements.
BigMint assessed Tense scrap from the US was assessed at $1,995/t, while US Taint Tabor HRB (2-3%) stood at $2,250/t, both remained stable w-o-w.
The imported aluminium market remained extremely sluggish, with almost no active buying at present. The domestic aluminium market remained largely subdued this week. Most buyers preferred domestic scrap, with imported material purchases limited to need-based buying.
Imported copper scrap prices in India saw mixed trends w-o-w amid a slight decline in London Metal Exchange (LME) futures. Meanwhile, domestic copper scrap prices decreased w-o-w amid limited availability.
According to BigMint’s assessment, Birch Cliff scrap was assessed at $9,800/t, down by 1% w-o-w, while US motors mix stood at $1,190/t (both CFR Mundra), down by 0.83% w-o-w.
India’s copper scrap imports surged by 33% y-o-y in Q2FY’26 (July-September 2025), reflecting strong buying interest amid persistent domestic supply gaps and competitive import prices. Total inflows of imported scrap reached 132,191 t during Q2, up from 99,575 t in the same period last fiscal, according to BigMint data.
India’s zinc scrap and dross market witnessed a downtrend this week, with prices moving lower in a narrow band.
BigMint assessed zinc diecast scrap (Middle East origin) at $2,390/tonne (t) CFR west coast India, down by $40/t from the previous week, amid cautious procurement.
Domestic zinc spot prices remained stable at INR 302,000/t exw-Delhi w-o-w. HZL zinc prices were up by 0.47% w-o-w to INR 319,100/t ex-Chanderiya.
Lead
Domestic primary lead ingot prices stood at INR 193,000/t, down by INR 2,000/t w-o-w, while re-melted ingots stood at INR 176,000/t, down by INR 1,000/t w-o-w.
Meanwhile, HZL lead prices were down by INR 2,300/t w-o-w to INR 206,400/t ex-Chanderiya.
Other updates
Balco achieves milestone with first metal from India’s largest smelter
Bharat Aluminium Company Limited (BALCO), a subsidiary of Vedanta Aluminium, has produced the first metal from India’s largest 525 kA aluminium smelter at its Korba plant in Chhattisgarh — a key step toward joining the ‘million tonne club’. The new 0.435 mnt potline will boost BALCO’s total capacity to 1 mnt/year and Vedanta Aluminium’s overall capacity to 2.8 mnt. Once fully operational, BALCO is expected to contribute over 20% of India’s total aluminium output, advancing the country’s self-reliance and supporting sectors like defence, aerospace, automotive, and construction.
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