- South Korea explores boosting US imports
- German exports rise, industrial production falls
Base metals prices on the London Metal Exchange (LME) witnessed a decline as of 7 April, 2025 with lead experiencing the steepest drop of 1.89%. LME-registered warehouse inventories saw mixed trends, with zinc dropping by 1.50%.
COMEX market
Copper prices on the COMEX stood at $9,501/tonne (t), down 1.6% compared to the previous close.
Indian market overview
In India’s non-ferrous metals markets, BigMint assessed domestic copper armature scrap at INR 790,000/t ex-Delhi. Aluminium Tense scrap prices dropped by INR 2,000/t d-o-d, with ex-Delhi and ex-Chennai at INR 183,000/t.
Key updates
German exports rise, industrial production declines
German exports grew by 1.8% in February, boosted by increased US demand ahead of looming tariffs, while industrial production fell 1.3%, worse than expected. Exports to the US surged by 8.5%. Despite a trade surplus, weak industrial orders and ongoing tariff threats signal continued struggles for Germany’s manufacturing sector. Economic outlook remains cautious.
South Korea considers measures to boost US imports
South Korea’s trade minister has announced plans to explore ways to increase US imports, including LNG, to balance trade and counter US tariffs. As he prepares to meet with US officials, the minister aims to dispute high tariff calculations and safeguard South Korea’s export-reliant economy. The ongoing tariff dispute with the US threatens exporters, particularly those in Vietnam.
Oil prices gain d-o-d
Oil prices saw a 1% increase following a sharp decline triggered by concerns over US tariffs and their potential to slow global demand, fuelling recession fears. Market sentiment remains cautious, with analysts predicting that economic pressures could stabilise prices at a lower range. Despite volatility, there are expectations that the market may find a floor soon.
Brent crude futures were recorded at $64.98/barrel today. Meanwhile, WTI crude oil futures increased by 1.35% d-o-d at $61.52/barrel.
Natural gas prices up
Natural gas stood at $3.67/metric million British thermal unit (MMBtu), up by 0.63% d-o-d.
Dollar index inches up
The dollar index, which measures the value of the greenback against a basket of six major currencies, hovered at 102.79, down by 0.17% d-o-d at the time of reporting. The Indian rupee was recorded at INR 85.91 showing a slight appreciation d-o-d against the dollar.
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