The non-ferrous metals market in India is displaying mixed pricing trends. Aluminium prices are relatively stable, maintaining a consistent range. However, specific grades of aluminium are facing a decline in prices due to decreased demand. On the other hand, copper prices have rebounded, primarily due to India's increased procurement of copper scrap. The lead market has been slow-moving, with no significant transactions being reported. Meanwhile, the zinc market has remained relatively stable without experiencing significant fluctuations.
Aluminium scrap prices in the domestic market saw a minor week-on-week decline, with a decrease of 1.2 per cent for aluminium tense prices and a 1.7 per cent dip for utensil prices. Trading activity remained subdued due to weak demand for the material.
The current worldwide instability in futures markets has caused a decrease in demand for aluminium alloy ingots within the local market. As a result, small- and medium-scale producers have scaled back their production activities. The uncertain price decline on the London Metal Exchange (LME) has made market participants adopt a more careful approach. At the same time, sellers are hesitant to engage in transactions that could lead to financial losses.
The market for imported aluminium scrap in India experienced price fluctuations, leading to a notable decrease of up to $120 per ton week-on-week for specific grades. Importers are exercising caution and delaying their bookings as a result. Additionally, scrap buyers need help due to the scarcity of available offers for aluminium exports in the European region.
Received under the content exchange agreement with SteelMint
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