- BALCO wins Karlapat bauxite block at record premium
- Copper cathode prices surge on stronger global cues
LME base metals traded largely firm during the week. Copper recorded the strongest gain, rising 2.0% to $14,076/t from $13,800/t. Aluminium increased 3.2% to $3,280/t from $3,179/t. Zinc also advanced 2.1% to $3,707/t. In contrast, lead declined 0.4% to $1,887/t.
Meanwhile, LME inventories declined across all major base metals. Copper stocks recorded the steepest fall of 9.3% to 226,650 t from 249,850 t. Lead inventories fell 2.9% to 428,425 t from 441,275 t. Aluminium stocks declined 2.5% to 257,900 t from 264,400 t. Zinc inventories also fell 2.3% to 97,475 t from 99,800 t.
Aluminium
India’s imported aluminium scrap prices increased w-o-w, tracking the rise in LME aluminium prices.
According to BigMint’s latest assessment for CFR Nhava Sheva deliveries, UK-origin Zorba 95-5 scrap prices increased by $50/t w-o-w to $2,750/t, while UK-origin Wheel scrap prices rose by $110/t to $3,295/t.
Domestic aluminium prices in India strengthened w-o-w, supported by firmer MCX and LME aluminium trends, which lifted sentiment in the physical market.
According to BigMint’s assessment, P1020 aluminium ingot prices in Delhi NCR increased by INR 12,000/t (3.5%) w-o-w to INR 357,000/t, from INR 345,000/t a week earlier.
Copper
Domestic copper scrap prices in India strengthened during the week ended 6 August 2026, supported by a strong rally in LME copper prices, tightening availability of imported scrap, and increasing competition for physical material across Asian markets.
As per BigMint’s assessment, copper armature scrap, ex-Delhi, increased by around 1.4% w-o-w to INR 1,284,000/t from INR 1,266,000/t in the previous week.
Copper cathode prices in western India increased sharply w-o-w during the week ended 6 August 2026, supported by a strong rally in LME copper prices, higher MCX futures and firmer import premiums.
Buying activity, however, remained subdued as downstream consumers limited purchases to immediate requirements amid elevated prices and rising premiums.
As per BigMint’s assessment, ex-Mumbai copper cathode prices rose to around INR 1,395,000/t on 6 August from nearly INR 1,333,000/t last week.
Zinc, lead
India’s zinc dross and zinc oxide prices increased in the week ended 6 August 2026, supported by a recovery in benchmark zinc prices, lower LME zinc inventories, and higher replacement costs. Although downstream demand remained muted, sellers continued to maintain firm offers due to improved cost economics and limited scope for price reductions.
Domestic zinc dross prices increased by INR 4,200/t w-o-w to INR 324,700/t ex-Delhi, compared with INR 320,500/t in the previous assessment period.
Zinc oxide (99% Zn) prices also moved higher, rising by INR 1,100/t w-o-w to INR 310,800/t ex-Delhi, against INR 309,700/t a week earlier.
The recent rise in HZL zinc benchmark prices also supported replacement cost calculations for secondary zinc products. HZL raised its zinc ingot prices by INR 4,400/t during the week, increasing the benchmark from INR 393,800/t on 3 August to INR 398,200/t on 6 August.
Other market updates
BALCO secures Karlapat bauxite block at record premium
Bharat Aluminium Company Ltd (BALCO), a Vedanta Group company, has won Odisha’s Karlapat bauxite block at a record 175% premium, according to sources. Located in Kalahandi, the block holds over 200 mnt of bauxite across 3,100 hectares. The bid surpassed the previous record premium of 126.76% for the Kutrumali block, highlighting growing competition among aluminium producers to secure domestic bauxite resources amid rising long-term aluminium demand.
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