- Industry body seeks 15% duty on aluminium imports
- Anglo American’s copper output dips 9% y-o-y
Base metals prices on the London Metal Exchange (LME) remained rangebound d-o-d, with aluminium increasing by 0.52% to $2,889/tonne (t). Meanwhile, inventories at LME-registered warehouses registered negative movements d-o-d, with zinc recording the highest decline of 4.86%.
Domestic market overview
In India’s non-ferrous metals markets, BigMint assessed copper armature scrap at INR 896,000/t ex-Delhi, up by INR 1,000/t d-o-d. Aluminium Tense scrap prices were assessed at INR 191,000/t ex-Delhi and at INR 186,000/t ex-Chennai, down by INR 7,000/t d-o-d.
Other updates
Industry body seeks 15% duty to curb cheap aluminium imports
The Aluminium Association of India (AAI) has urged the government to impose a 15% basic customs duty on aluminium products to counter rising low-quality imports, mainly from the US and EU. It warned that such imports could meet over half of India’s aluminium demand by FY26, threatening domestic producers. AAI also called for stricter scrap quality standards, duty rationalisation, and circular economy reforms to protect local industry and promote sustainable growth.
Rio Tinto warns of uncertain future for Australia’s largest aluminium smelter
Rio Tinto has warned that its Tomago Aluminium smelter in New South Wales may shut down after 2028 if it fails to secure affordable power once its current deal with AGL Energy expires. Power accounts for over 40% of the smelter’s costs, and rising energy prices are making operations commercially unviable. The company said it has not received any viable energy proposals and highlighted the urgent need for government-backed solutions to sustain operations. Tomago employs over 1,000 staff and 200 contractors, and consultations on its future will continue until November 21.
Anglo American reports 9% decline in copper output in first nine months
Anglo American reported a 9% fall in copper production to 526,000 tonnes in the first nine months of 2025, down from 575,000 tonnes a year earlier. Despite the decline, the miner maintained its annual copper guidance of 690,000-750,000 tonnes and raised its iron ore outlook to 58-62 million tonnes after early completion of pipeline inspections at its Minas-Rio mine in Brazil. The update comes as Anglo pursues a merger with Canada’s Teck Resources to strengthen its copper portfolio following a rejected $49 billion takeover bid from BHP.
Novelis to restart Oswego aluminum plant ahead of schedule
Novelis announced that its Oswego hot mill in New York will resume operations by December 2025, ahead of the original early-2026 schedule. Repairs following the September fire are progressing faster than expected, with the company coordinating global production support and alternative raw material sourcing to limit disruptions. The early restart is expected to stabilize North America’s automotive aluminum sheet supply chain. The Oswego plant, Novelis’ largest wholly owned site in the region, produces over 1 billion pounds of aluminum annually for automotive, construction, and beverage sectors.
Nornickel’s Q3 nickel output rises q-o-q, annual target unchanged
Nornickel reported Q3 2025 nickel production of about 53,600 tonnes, up 18.4% from the previous quarter but down 4% year-on-year, driven by increased processing of semi-finished materials. Total nickel output for the first nine months stood at 140,000 tonnes, 4% lower year-on-year, though the company maintained its full-year guidance of 196,000-204,000 tonnes. Copper production fell 4% quarter-on-quarter and 7% year-on-year to 100,105 tonnes, with cumulative output at 313,300 tonnes; Nornickel targets 343,000-355,000 tonnes for 2025.
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