LME base metals prices show mixed trends d-o-d

• Copper prices on COMEX remain stable d-o-d
• GCC imposes AD duties on Chinese aluminium

Base metals prices on the London Metal Exchange (LME) showed mixed trends, with copper recording the highest gain of 1.25% d-o-d. Additionally, inventories at LME-registered warehouses also showed mixed movements, with zinc increasing by 1.60% d-o-d.

COMEX market update

Copper prices on the COMEX stood at $11,195/tonne (t), stable compared to the previous close.

Indian market overview

In India’s non-ferrous metals markets, BigMint assessed domestic copper armature scrap at INR 817,000/t ex-Delhi. Aluminium Tense scrap prices remained stable d-o-d, with ex-Delhi and ex-Chennai at INR 188,000/t.

Key updates

GCC imposes AD duties on Chinese aluminium products

The Gulf Cooperation Council (GCC) imposed anti-dumping (AD) duties of 7.1-20% on imports of aluminium alloy flat products from China. The duty, effective from 25 April 2025, applies to painted, coated, or grained aluminium sheets, plates, strips, and coils. However, certain aluminium products, such as cans, are exempt.

German growth improves in Mar’25

Germany’s private sector activity rose at its fastest pace in 10 months in March, and manufacturing production increased for the first time in nearly two years. The Hamburg Commercial Bank (HCOB) flash purchasing managers’ index (PMI) rose to 50.9, driven by stronger demand in manufacturing. Despite a slowdown in services, Germany’s fiscal spending package and exports to the US contributed to a promising first-quarter recovery.

Oil prices dip

Brent crude futures were recorded at $72.98/barrel today. Meanwhile, WTI crude oil futures decreased by 0.06% d-o-d to $69.07/barrel.

Natural gas prices fall

Natural gas stood at $3.91/metric million British thermal unit (MMBtu), down by 0.08.% 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 103.98, up by 0.04% d-o-d at the time of reporting. The Indian rupee was recorded at INR 85.85 against the dollar.