- India’s manufacturing activity surges in Mar’25
- India’s aluminium output grows 0.9% in FY’25
Base metals prices on the London Metal Exchange (LME) showed negative trends, except for nickel, which recorded a gain of 1.19% d-o-d. Additionally, inventories at LME-registered warehouses recorded mixed movements, with zinc decreasing by 1.23% d-o-d.
COMEX market update
Copper prices on the COMEX stood at $11,101/tonne (t), inching up by 1% compared to the previous close.
Indian market overview
In India’s non-ferrous metals markets, BigMint assessed domestic copper armature scrap at INR 816,000/t ex-Delhi. Aluminium Tense scrap prices remained stable d-o-d, with ex-Delhi and ex-Chennai at INR 187,000/t.
Key updates
India’s manufacturing grows fastest in 8 months
India’s manufacturing activity expanded at its fastest pace in eight months in March, driven by strong domestic demand. The PMI rose to 58.1 from 56.3 in February. New orders and output grew at their quickest rate since July, though export orders expanded at a slower pace. Firms remain optimistic, expanding workforce and production.
India’s aluminium production sees modest growth
India’s aluminium production increased by 0.9% to 3.836 million tonnes (mnt) in FY’25. Despite challenges, demand for aluminium continues to rise, with the sector seeking stronger measures for long-term growth.
Oil prices remain range-bound
Oil prices showed range-bound movements amid cautious market sentiment as oil traders await clarity on new US tariffs, fearing potential trade disruptions that could affect demand. Uncertainty continues, despite some positive signals from China and mixed inventory data.
Brent crude futures were recorded at $74.45/barrel today. Meanwhile, WTI crude oil futures remained stable d-o-d at $71.20/barrel.
Natural gas prices up
Natural gas stood at $3.95/metric million British thermal unit (MMBtu), up by 0.03% 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 103.95, up by 0.02% d-o-d at the time of reporting. The Indian rupee was recorded at INR 85.51 against the dollar.
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