- Govt launches non-ferrous recycling portal
- Nickel posts highest weekly gain of 2.09%
At close of trading on 9 May 2025, base metals prices on the London Metal Exchange (LME) showed a slight uptrend, with nickel witnessing the highest gain of 2.09% w-o-w. Meanwhile, LME warehouse stocks exhibited negative trends w-o-w, with copper falling the steepest, by 2.8%.
On the LME, three-month aluminium stood at $2,417/tonne (t), down by 0.58%, while nickel prices increased by 2.09% w-o-w to $15,804/t. Copper prices were at $9,445/t, up by 0.85% w-o-w, while zinc increased by 1.76% w-o-w to $2,653/t. Lead was up by 2.46% w-o-w to $1,982/t.
India’s imported aluminium scrap prices fluctuated by up to $40-50/t w-o-w, supported by a tightening supply of raw materials in the global market because of fluctuating LME prices which are making sellers cautious.
BigMint’s latest assessments indicate that Tense scrap from the US stood at $1,990/t up by $50/t, while Wheels from the UK stood at $2,455/t, both CFR west coast India.
In the domestic market, Tense scrap prices in both Delhi and Chennai inched up by INR 3,000/t compared to last week. According to BigMint’s assessment, domestic Tense scrap stood at INR 195,000/t ex-Delhi-NCR and INR 196,000/t ex-Chennai.
Additionally, India’s secondary aluminium market saw an increase in prices in April, driven by rising demand and persistent shortage of raw materials. This supply-demand imbalance pushed alloyed ingot prices higher, particularly in the northern and southern parts of the country.
Copper
India’s copper scrap prices inched up this week, following a 2% w-o-w increase in London Metal Exchange (LME) futures.
Copper armature scrap was assessed at INR 792,000/t ex-Delhi, up by INR 2,000/t w-o-w, while motors mix decreased by $10/t w-o-w to $1,170/t.
Secondary continuously cast rods (CCRs) (99.90%) were assessed at INR 844,000/t ex-Delhi, reflecting an increase of INR 4,000/t w-o-w. Meanwhile, primary CCR prices stood at INR 860,000/t, steady w-o-w.
Zinc
Imported zinc diecast from the Middle East was assessed at $2,150/t CFR Mundra, steady w-o-w, while domestic zinc ingots inched up by INR 4,000/t w-o-w to INR 260,000/t.
Zinc ingot prices of Hindustan Zinc Limited (HZL) dropped by INR 9,400/t w-o-w to INR 258,000/t ex-Jodhpur.
Lead
Domestic primary lead ingot prices remained stable at INR 199,000/t, while re-melted ingots stood at INR 180,000/t. Meanwhile, HZL lead ingots were up by INR 4,200/t w-o-w to INR 194,400/t ex-Jodhpur.
Other updates
Ministry of Mines launches non-ferrous metal recycling portal: India’s Union Minister of Coal and Mines, G. Kishan Reddy, has launched a dedicated non-ferrous metal recycling website and stakeholders portal, developed under the National Non-Ferrous Metal Scrap Recycling Framework. It aims to connect stakeholders, enhance data visibility, and support informed policymaking for metals such as aluminium, copper, lead, and zinc and critical elements, promoting a structured, transparent, and sustainable recycling ecosystem.
Chile’s top copper mines post mixed March output: Codelco’s copper production rose nearly 15% y-o-y in March to 123,200 t, according to Cochilco. BHP’s Escondida mine saw a 19% jump to 120,600 t. However, Collahuasi, run by Glencore and Anglo American, saw output fall 29% to 35,200 t.
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