- MetTube India plant receives Adani support
- China’s alumina imports rise on Indonesian supply
At the close of trading on 25 July 2025, base metals prices on the London Metal Exchange (LME) remained rangebound w-o-w, with nickel witnessing the highest gain of 0.67%% to $15,320/tonne (t). Meanwhile, LME warehouse stocks exhibited positive trends, with copper gaining the steepest, by 5.16%.
On the LME, three-month aluminium prices stood at $2,636/t, up by 0.21%, while nickel increased by 0.67% w-o-w to $15,320/t. Copper prices were at $9,770/t, down by 0.09% w-o-w, and lead was up by 0.20% w-o-w to $2,014/t.
India’s imported aluminium scrap prices fluctuated by $30-40/t w-o-w, following an uptrend in LME levels, strong global demand and ongoing supply constraints. Meanwhile, aluminium prices on the LME climbed above $2,640/t amid steady demand and marginal rise in inventory.
In the domestic market, Tense scrap prices in both Delhi and Chennai remained stable as compared to last week. According to BigMint’s assessment, domestic Tense scrap stood at INR 197,000/t ex-Delhi-NCR and INR 200,000/t ex-Chennai.
In the semi-finished segment, ADC12 alloy prices remained strong across both northern and southern regions.
Global aluminium production decreased by 3% to 6.04 mnt in Jun’25 from 6.25 mnt in May, according to the latest data from the International Aluminium Institute (IAI). However, y-o-y, production edged up by 1% from 5.98 mnt in Jun’24.
Indian copper scrap prices inched up w-o-w, as London Metal Exchange (LME) futures rose by a minor 3% w-o-w to $9,877/tonne (t), supported by persistent supply constraints and growing uncertainty over potential US import tariffs.
Secondary continuously cast rods (CCRs) (99.90%) were assessed at INR 866,000/t ex-Delhi, up by INR 15,000/t w-o-w. Meanwhile, primary CCR prices stood at INR 906,000/t, up by INR 23,000/t w-o-w.
According to BigMint’s assessment, India’s copper scrap imports rose sharply by 25% m-o-m in June 2025 to 42,620 t from 34,130 t in May. The jump reflects continued substitution for refined copper, driven by regulatory hurdles and firm downstream demand.
By 2030, India’s scrap demand is expected to soar substantially, fuelled especially by the expansion of electric arc furnace (EAF) steelmaking and green infrastructure projects. Industry estimates project that India may need to import up to 30 million tonnes (mnt) of scrap annually by 2030 to fill the growing supply gap.
India’s zinc scrap and dross prices recorded a slight w-o-w increase, tracking gains in global zinc benchmarks and steady domestic demand. BigMint assessed zinc diecast scrap (Middle East origin) at $2,210/tonne (t) CFR west coast India, up $75/t w-o-w.
Prices of zinc ingots from Hindustan Zinc Limited (HZL) stood at INR 272,800/t ex-Chanderiya, up by INR 500/t w-o-w.
India’s zinc ingot imports witnessed an18% increase to 114,203 tonnes (t) in H1CY25 (January-June 2025) from 96,715 t in H1CY24, driven by restocking demand and lower global prices.
Lead
Domestic primary lead ingot prices remained steady w-o-w at INR 202,000/t, while re-melted ingots decreased by INR 1,000/t to INR 181,000/t. Meanwhile, HZL lead ingots stood at INR 205,000/t ($2,376/t) ex-Chanderiya, up by INR 3,100/t w-o-w.
Other updates
Adani forms joint venture with MetTube to boost copper tube production
Adani Enterprises will divest 50% of its copper tubes business to Malaysia-Japan joint venture MetTube and acquire an equal stake in MetTube India, forming a 50:50 joint venture. The collaboration will help boost India’s copper tube production for air conditioning, renewable energy, and smart construction. MetTubes Indian plant, commissioned in 2024, will now benefit from Adanis infrastructure scale. Adani also operates a $1.2-billion smelter in Gujarat.
China’s alumina imports and exports surge in Jun’25
China’s alumina imports surged in June 2025, fuelled by a sharp rise in shipments from Indonesia as new refinery projects began to deliver into the market. Additionally, China’s alumina exports rose 9% y-o-y in June but fell 18% from May levels. Still, total H1 2025 exports surged 66% y-o-y, backed by domestic oversupply, as Chinese alumina production rose 7.8% y-o-y to 7.75 mnt in June. Cumulative H1 output reached 45.2 mnt, up 9.3% on-year.
Vedanta Aluminium expands PFA unit capacity in Jharsuguda
Vedanta Aluminium , India’s largest aluminium producer, has announced a significant expansion at its Special Economic Zone facility in Jharsuguda. The company has increased the installed capacity of its Primary Foundry Alloy (PFA) unit by 120 kilo tonnes per annum (KTPA).
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