Imported aluminium scrap price in India records significant fluctuation W-o-W

The domestic aluminium scrap market remained stable. Price alternations by important industry participants had little impact on the market. Stress grade scrap was recorded at INR 163,000 per tonne, while utensil prices were INR 173,500 per tonne exy-Delhi.

As a result, transactions remained mild, and sellers grew more cautious, taking a wait-and-see strategy to analyse the situation. However, given the present scarcity in northern sections, prices may see a minor increase soon. Imported aluminium scrap prices entering India, on the other hand, saw significant swings. Specific grades had huge rises of up to $40 per tonne this week, while others saw decreases of up to $10 per tonne W-o-W.

The domestic nonferrous scrap market remained unstable, owing to low to moderate transactional activity. Aluminium extrusions were in high demand, resulting in a shortage on the market. Copper-finished items were also in high demand. Copper transactions are projected to grow as the new month (June) begins.

Domestic aluminium alloy ingot ADC12 prices remained unchanged week on week at INR 196,000 per tonne exw-Faridabad, excluding GST. Due to the market's balanced supply-demand, transaction volume was low, limiting prices to a range-bound trend. Maruti Suzuki, India's top customer of ADC12 ingots announced June 23 settlement pricing for aluminium ADC12 alloy ingots. According to reports, Prices have decreased by INR 500 per tonne M-o-M to INR 206,900 per tonne.

Copper prices in India witnessed an upswing in scrap prices due to a comeback in the three-month futures on the London Metal Exchange (LME). However, the business is now dealing with a precarious supply-demand balance. Ex-Delhi, domestic copper armature scrap prices increased w-o-w to INR 680,000 per tonne ($8,252 per tonne). Meanwhile, secondary wire rod prices ex-Delhi were INR 720,000 per tonne ($8,737 per tonne). In June, a surge in demand for secondary wire rods pushed up copper prices in northern India, giving significant market support. This has contributed greatly to the rise in copper prices.

Domestic special high-grade (SHG) zinc ingot prices remained constant w-o-w, closing at INR 215,000 per tonne ($2,609 per tonne) despite slowing zinc futures. Similarly, domestic remelted lead ingot prices increased by 0.2 per cent to INR 183,000 per tonne. Prices for primary lead ingots were approximately INR 203,000 per tonne exw-Delhi.