- Hindalco partners L&T for Odisha aluminium smelter expansion
- Eldorado Gold’s new Skouries copper-gold mine nears completion
Base metals prices on the London Metal Exchange (LME) remained range-bound d-o-d, with copper increasing by 0.99% to $10,963/tonne (t). Meanwhile, inventories at LME-registered warehouses registered positive movements d-o-d, with zinc recording the highest gain of 8.36%.
Domestic market overview
In India’s non-ferrous metals markets, BigMint assessed copper armature scrap at INR 872,000/t ex-Delhi, stable d-o-d. Aluminium Tense scrap prices were assessed at INR 191,000/t ex-Delhi and at INR 193,000/t ex-Chennai, stable d-o-d.
Other updates
Inalum plans new aluminium smelter to boost annual output to 600,000 t
PT Indonesia Asahan Aluminium (INALUM) plans to build a new smelter to boost production from 277,000 t/year to 600,000 t/year. A feasibility study, set to finish by early 2026, will decide between a site near an energy source or alumina supply in Mempawah. Construction is expected to take three years, with production starting by 2028-2029. The new facility may use coal-fired power for cost efficiency, while the existing Kuala Tanjung smelter will continue producing hydropower-based green aluminium.
L&T secures major orders, including Hindalco aluminium smelter project
Larsen & Toubro (L&T) has bagged multiple key orders for its minerals and metals business, including a contract from Hindalco to build a 180,000 t/year aluminium smelter and gas treatment centre in Odisha. The project covers engineering, procurement, construction, and installation. L&T, a long-term partner of Hindalco, continues to support its expansion in alumina, aluminium, and copper sectors. The company also received an order from Tata Steel for a 1 mnt/year coke oven battery in Jamshedpur and additional contracts for mining and material handling equipment across India.
Greece’s new copper-gold mine nears completion as LME copper surges
Canadian miner Eldorado Gold announced that its Skouries copper-gold project in northern Greece is about 70% complete, with first production expected in early 2026 and commercial output by mid-2026. The mine, designed for a 20-year lifespan, will produce around 140,000 ounces of gold and 67 million pounds of copper annually. Meanwhile, LME copper prices rose sharply on Friday, closing 1.2% higher at $10,947/t, supported by expectations of US rate cuts and improved China-US trade sentiment. Tight high-grade copper supply and firm macroeconomic support continue to underpin copper prices despite weaker downstream demand.
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