- NALCO raises aluminium ingot prices
- LME nickel nears 14-month high
London Metal Exchange (LME) base metals prices traded higher on a w-o-w basis as of 10 January 2025, supported by broad-based gains across the complex amid mixed inventory movements. Aluminium prices rose 4% w-o-w to $3,136/t, while LME stocks declined 2.24% to 497,825 t, signalling tighter availability. Nickel recorded strong gains, climbing 5.25% w-o-w to $17,703/t, although inventories increased sharply by 11.56% to 284,790 t.
Copper prices advanced 4.24% w-o-w to $12,998/t, supported by a 4.37% drawdown in LME stocks to 138,975 t, reinforcing supply-side tightness. Zinc prices edged up 0.85% w-o-w to $3,154/t, with inventories rising marginally by 1.06% to 107,450 t. Lead also posted firm gains, increasing 2.14% w-o-w to $2,050/t, while LME stocks fell sharply by 6.94% to 222,725 t, reflecting improved market balance.
LME nickel prices climbed to around $16,900/t on 5 January 2025, approaching a 14-month high, despite a firmer US dollar. Prices have risen nearly 5% from 29 Dec’25 levels, supported by supply-side concerns after PT Vale Indonesia temporarily suspended mining operations due to pending government approvals.
India’s imported aluminium scrap prices rose in the week ended 6 January, supported by selective buying and stronger global aluminium sentiment.
BigMint assessed Middle East-origin Tense (8-9%) at $1,940/t, up $10/t w-o-w, while Middle East-origin Extrusion 6063 jumped $115/t to $2,785/t, led by improved interest in higher-grade material.
Domestic aluminium prices in India registered sharp w-o-w gains following upward price revisions by primary producers amid firm LME and MCX aluminium futures and persistent global supply concerns.
According to BigMint’s assessment, domestic aluminium prices in Delhi increased by INR 15,000/t, or 5% w-o-w, to INR 315,000/t.
NALCO raised its primary aluminium ingot (P1020, 99.7%) prices by INR 12,800/t ($142/t) on 7 Jan’26. Post-revision, NALCO’s prices were INR 320,000/t ($3,561/t).
Imported copper scrap prices in India moved higher w-o-w on 7 January, tracking a fresh record rally in London Metal Exchange (LME) copper futures.
According to BigMint’s assessment, Birch/Cliff was assessed at $12,300/tonne (t), up by $830/t w-o-w, while US motors mix stood at $1,400/t, UP by $110/t w-o-w (both CFR Mundra).
Domestic brass honey prices moved slightly higher w-o-w after the New Year despite subdued market activity and persistent demand-side pressures.
According to BigMint’s assessment, brass honey, exw Jamnagar, Gujarat, increased by INR 11,000/t, rising from INR 660,000/t on 2 January to INR 671,000/t on 9 January, a 1.7% w-o-w gain which reflected a modest uptick amid otherwise weak market conditions.
The zinc scrap and dross market in India witnessed an upward movement this week, with prices strengthening on sustained demand from local processors. BigMint assessed zinc diecast scrap of Middle East origin at $2,530/tonne (t) CFR west coast, India, up by $65/t w-o-w, on steady inquiry levels.
Zinc dross prices moved higher across key markets. In north India, zinc dross was assessed at INR 254,600/t ex-Delhi, up by INR 4,600/t w-o-w.
Domestic zinc spot prices stood at INR 316,000/t exw-Delhi, unchanged w-o-w. HZL zinc prices were up by 3.1% w-o-w at INR 322,400/t ex-Chanderiya.
Lead
Domestic primary lead ingot prices stood at INR 194,000/t, up by 1.6% w-o-w, while re-melted ingots stood at INR 184,000/t, up by 1.8w-o-w.
Meanwhile, HZL lead prices stood at INR 214,400/t ex-Chanderiya, up by 1.6% w-o-w.
Other updates
Ardee Lead 9997 listed on London Metal Exchange
Ardee Industries Ltd has secured a major global milestone with its pure lead brand Ardee Lead 9997 gaining “good delivery” approval on the London Metal Exchange (LME) effective 23 December 2025. This listing benchmarks the company’s product quality to international standards. The brand already trades on Indias MCX. Ardee Lead 9997 is produced with an annual capacity of 104,025 MTPA and exports to seven countries.
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