Weekly round up: Non-ferrous scrap prices turn volatile

All non-ferrous metals prices on the London Metal Exchange (LME) saw mixed trend throughout the week.

Global market remained volatile in the assessing week which has negatively impacted the domestic market this week.

The dollar index, which measures the currency's value against a basket of six different currencies, was at 103.58, a modest increase of 0.57% from the previous week.

Global aluminium scrap market

India's imported aluminium scrap market noticed a downtrend in prices, except tense scrap prices. Mostly price drops are also being seen in the exchange markets such as the London Metal Exchange (LME).

With only some transaction heard, the market remained largely silent throughout the week.

Aluminium ADC12 ingots prices fall

Aluminium alloy ingots ADC12 prices fell by INR 2,000/t w-o-w on 8 February, 2023.

Copper scrap prices slip

Copper armature scrap prices in India fell by 0.5% w-o-w to INR 698,000/t ($8,462/t) exy-Delhi due to limited activities and amid a fall in MCX futures. While primary wire rods prices fell by 1.8% w-o-w to INR 795,000/t ($9,368/t), as per SteelMint's assessment.

Zinc prices on downfall, lead stable

Domestic special high-grade (SHG) zinc ingots prices fell by 6.7% w-o-w to INR 284,000/t ($3,443/t) exw-Delhi on lessening demand and a sharp fall in LME. Furthermore, prices of domestic remelted lead ingots and refined lead ingots remained largely stable.