- Japan’s GDP contracts 0.7% amid export declines
- Vedanta eyes battery-grade graphite from aluminium waste
Base metals prices on the London Metal Exchange (LME) showed a slight declining d-o-d, with aluminuim decreasing by 1.62% to $2,489/tonne (t). Meanwhile, inventories at LME-registered warehouses showed mixed trends d-o-d, with zinc down by 1.12%.
COMEX market
Copper prices on the COMEX stood at $10,206/t, increasing by 0.6% compared to the previous close.
Indian market overview
In India’s non-ferrous metals markets, BigMint assessed domestic copper armature scrap at INR 794,000/t ex-Delhi. Aluminium Tense scrap inched up by INR 1,000/t d-o-d, with ex-Delhi at INR 196,000/t and ex-Chennai at INR 197,000/t.
Market updates
Japan’s economy contracts amid US tariff pressures
Japan’s economy shrank by an annualised 0.7% in Q1 2025, marking its first contraction in a year and surpassing forecasts of a 0.2% decline. The downturn was driven by stagnant consumer spending and a 2.3% drop in exports, influenced by impending US tariffs on key sectors like automobiles. Capital investment rose 1.4%, but the fragile recovery complicates the Bank of Japan’s plans for rate hikes.
Vedanta’s breakthrough in aluminium waste recycling
Vedanta Aluminium has patented a new technology to recover high-purity graphite from aluminium industry waste, such as spent pot lining and shot blast dust. This innovation supports India’s circular economy goals, reduces dependence on imported graphite for batteries, and strengthens the nation’s self-reliance in critical minerals essential for high-tech and green industries
Oil set for second weekly rise on trade war truce
Oil markets remained steady, poised for a second consecutive weekly gain, buoyed by easing US-China trade tensions. The 90-day tariff pause between the two nations has uplifted investor sentiment, mitigating fears of a global economic slowdown. However, uncertainties surrounding a potential US-Iran nuclear deal and increased global supply forecasts continue to temper market optimism.
Brent crude futures were recorded at $64.67/barrel today. Meanwhile, WTI crude oil futures decreased by 2.22% d-o-d to $61.75/barrel.
Natural gas prices down
Natural gas stood at $3.46/metric million British thermal unit (MMBtu), down by 0.83% d-o-d.
Dollar index inches down
The dollar index, which measures the value of the greenback against a basket of six major currencies, hovered at 100.42, down by 0.31% d-o-d at the time of reporting. The Indian rupee was recorded at INR 85.56 against the dollar.
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