- Aluminium nears $2,850/t on demand optimism
- India’s auto sector growth fuels ADC12 demand
At close of trading on 24 October 2025, base metals prices on the London Metal Exchange (LME) showed positive trends w-o-w, with copper witnessing the highest gain of 3.67% to $10,963/tonne (t). Meanwhile, LME warehouse stocks exhibited negative trends, with lead witnessing the highest drop of 6.60%.
On the LME, three-month aluminium prices stood at $2,859/t, up by 3.40% w-o-w, while zinc increased by 2.46% to $3,026/t. Copper prices were at $10,963/t, up by 3.67% w-o-w, and lead was up by 1.95% at $2,017/t. Nickel stood at $15,361/t, up by 1.53% w-o-w.
LME aluminium prices approached the $2,850/t mark recently, the highest level since June 2022, supported by supply tightness and improved demand prospects from the automotive and construction sectors.
Meanwhile, LME copper prices rose to around $10,960/t, up nearly 3% from about $10,600/t last week. The rally was supported by strong Chinese factory output, a softer US dollar, and persistent supply tightness from South American mines, which collectively lifted investor sentiment and refined copper premiums.
Aluminium
India’s imported aluminium scrap prices saw positive trends w-o-w, in line with the upward movement in LME benchmark prices.
BigMint assessed Tense scrap from the US was assessed at $2,030/t, up by 1.8% w-o-w, while US Taint Tabor HRB (2-3%) stood at $2,265/t, up by 0.7% w-o-w.
Japan’s premium for imported primary aluminium for the fourth quarter of 2025 was set at a three-year low of $86/t over the LME cash price, CIF main Japanese ports.
A leading Indian automaker has increased its ADC12 settlement price by INR 2,900/t m-o-m to INR 231,800/t for November 2025. The price hike was primarily driven by a surge in auto demand following the recent GST reduction, which pushed vehicle sales to record highs.
Imported copper scrap prices in India increased w-o-w amid a spike in LME futures. Meanwhile, domestic copper scrap prices saw a mixed trend w-o-w amid limited activity as the market still remained in holiday mood following Diwali.
According to BigMint’s assessment, Birch Cliff scrap was assessed at $10,230/t, up by 4% w-o-w, while US motors mix stood at $1,200/t (both CFR Mundra), up by $20/t w-o-w.
Zinc
India’s zinc scrap and dross market witnessed an uptrend this week, supported by sustained demand from local processors and steady inquiry levels.
BigMint assessed zinc diecast scrap (Middle East origin) at $2,400/t CFR west coast India, up by 0.4% from the previous week, amid cautious procurement.
Domestic zinc spot prices stood at INR 316,000/t exw-Delhi, up by 4.6% w-o-w.
Lead
Domestic primary lead ingot prices stood at INR 192,000/t, down by INR 1,000/t w-o-w, while re-melted ingots stood at INR 177,000/t, up by INR 1,000/t w-o-w.
Other updates
India’s automobile sector shows steady growth in 9MCY’25
India’s automobile sector recorded steady growth in 9MCY’25, supported by festive demand, GST 2.0 tax cuts, and rural recovery. According to SIAM, total domestic sales rose to 19.3 million units, with two-wheeler sales at 14.8 million units and passenger vehicles slightly lower y-o-y at 3.21 million units. FADA data showed retail sales improving to 18.58 million units, driven by strong demand during Navratri and Diwali and aided by discounts and lower GST on small cars and two-wheelers. The policy-driven rise in affordability also boosted demand for ADC12 aluminium alloy, used extensively in automotive components as vehicle production and sales accelerated.
Leave a Reply