- Aurubis begins operations at its US recycling plant
- Domestic copper scrap prices rise by INR 9,000/t
Base metals prices on the London Metal Exchange (LME) saw positive trends d-o-d, with copper increasing by 3.63% to $10,337/tonne (t). Meanwhile, inventories at LME-registered warehouses registered negative movements d-o-d, with zinc recording the highest decline of 2.24%.
Domestic market overview
In India’s non-ferrous metals markets, BigMint assessed domestic copper armature scrap at INR 836,000/t ex-Delhi, up by INR 9,000/t d-o-d. Aluminium Tense scrap prices were assessed at INR 195,000/t ex-Delhi, up by INR 1,000/t d-o-d, and at INR 196,000/t ex-Chennai, lower by INR 500/t d-o-d.
Other updates
Aurubis begins production at US recycling plant
Aurubis AG, Europe’s largest copper producer, has started operations at its $800-million recycling plant in Richmond, Georgia. The facility will process up to 180,000 t of waste materials annually, producing 70,000 t of high-grade blister copper along with nickel, tin, and precious metals. Aimed at reducing US copper imports, production is set to reach full capacity by mid-2026. The output can also be refined further at Aurubis’ European smelting network, and the company is considering additional US projects.
Oil retreats from 7-week high on supply-demand concerns
Oil prices eased in Asian trade on Thursday, pulling back from a seven-week high as investors booked profits amid uncertainty over supply-demand dynamics. The decline followed strong gains in the previous session, driven by a surprise drop in US crude inventories and concerns over disruptions from Ukraine’s attacks on Russian energy infrastructure. Analysts noted that softer seasonal demand, rising OPEC+ supplies, and the restart of Kurdish oil flows fueled oversupply fears, tempering sentiment-driven gains. Weak travel trends and slowing US fuel demand also reinforced caution, despite ongoing geopolitical risks supporting prices.
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