- China rushes exports before tariff deadline
- Codelco eyes phased restart after tragedy
Base metals prices on the London Metal Exchange (LME) saw positive trends d-o-d, with aluminium increasing by 1.81% to $2,609/tonne (t). Meanwhile, inventories at LME-registered warehouses registered varied movements d-o-d, with zinc recording the highest decline of 3.31%.
Domestic market overview
In India’s non-ferrous metals markets, BigMint assessed domestic copper armature scrap at INR 793,000/t ex-Delhi, down by INR 6,000/t d-o-d. Aluminium Tense scrap prices remained flat d-o-d, with ex-Delhi at INR 197,000/t and ex-Chennai at INR 200,000/t.
Market updates
China’s exports rise 7.2% in July ahead of US tariff deadline
China’s exports grew 7.2% y-o-y in July, outpacing forecasts as exporters rushed shipments before the 12 August US tariff deadline. The growth, up from 5.8% in June, came amid a fragile truce with Washington. However, the trade surplus narrowed to $98.24 billion from June’s $114.77 billion. Beijing and Washington had earlier agreed to reduce non-tariff barriers, but a lasting trade resolution remains pending.
Codelco plans partial restart at El Teniente after fatal collapse
Codelco has submitted a plan to Chilean authorities to partially resume operations at its El Teniente copper mine, following a collapse on 31 July that killed six workers and injured nine. The restart would focus on unaffected areas while investigations into the accident continue. The state-owned miner has responded to regulatory queries and aims to gradually return to production, which is vital for both the company and global copper supply. El Teniente produces about 30,000 t monthly—roughly a quarter of Codelco’s output.
Amber to invest ₹800 crore in copper laminate plant in Mysuru
Amber Enterprises is set to invest over INR 800 crore in a copper laminate plant in Mysuru, seeking land from the local development authority. This move aligns with the electronic component manufacturing scheme, aiming to boost domestic production. Additionally, the company is investing significantly in electronics manufacturing and PCB facilities in other locations, expanding its presence in the sector.
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