- Stocks at LME warehouses decline d-o-d
- India cancels 17 GW clean energy projects
Base metals prices on the London Metal Exchange (LME) saw mixed trends d-o-d, with zinc rising by 0.62% to $2,861/tonne (t). Meanwhile, inventories at LME-registered warehouses saw negative trends d-o-d, with zinc recording the steepest fall of 1.28%.
Domestic market overview
In India’s non-ferrous metals markets, BigMint assessed domestic copper armature scrap prices at INR 800,000/t ex-Delhi, up by INR 4,000/t d-o-d. Aluminium Tense scrap prices eased by INR 1,000/t d-o-d, settling at INR 195,000/t ex-Delhi and INR 199,000/t ex-Chennai. Meanwhile, prices were largely stable w-o-w.
Other market updates
China’s export growth slows as tariff risks rise
China’s export growth hit a six-month low in August, rising just 4.4% y-o-y, below forecasts. Imports also slowed to 1.3%, reflecting weaker domestic demand and construction activity. While exports to the US plunged 33%, shipments to Southeast Asia rose 22.5%, showing signs of diversification. Rising tariff risks under Trump’s trade policies continue to pressure Beijing’s economy, leaving exporters reliant on alternative markets and cautious policy support.
India cancels grid access for 17 GW clean energy projects
India has revoked grid access for nearly 17 GW of delayed clean energy projects in states such as Rajasthan, Gujarat, and Madhya Pradesh to prioritise operational and near-completion projects. Companies such as Adani Green, ReNew, NTPC, JSW Energy, Avaada, and ACME Solar have been impacted. The move aims to streamline transmission use amid rising power demand and India’s 2030 target of 500 GW non-fossil capacity.
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