India: Imported aluminium scrap prices soften w-o-w, tracking LME decline
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- Cautious buying weighs on imported scrap prices
- Tight supply, firm offers limit sharper downside
India's imported aluminium scrap prices declined sharply w-o-w on 16 June 2026, tracking continued weakness in LME aluminium prices and subdued buying activity.
According to BigMint's latest assessment for CFR Nhava Sheva deliveries, UK-origin zorba 95-5 scrap prices declined by $60/t w-o-w to $2,965/t from $3,025/t previously. Meanwhile, US-origin tense 6-7% scrap prices decreased by $55/t w-o-w to $2,730/t from $2,785/t last week.
LME aluminium retreats below $3,500/t
Three-month aluminium prices on the London Metal Exchange (LME) traded lower, closing at $3,380/t on 16 June against $3,586/t on 9 June, down by $206/t or 5.7% w-o-w.
Meanwhile, LME aluminium inventories declined by 11,450 t, or 3.5% w-o-w, to 319,500 t on 15 June from 330,950 t on 8 June.
Market scenario
India's imported aluminium scrap prices declined sharply w-o-w, tracking the continued correction in LME aluminium prices and subdued buying activity.
Market participants remained cautious following the sharp fall in LME prices, creating uncertainty over near-term pricing direction. While some sellers considered liquidating inventories, many preferred to hold material in anticipation of a recovery in benchmark prices.
Despite the decline in LME aluminium, imported scrap prices did not witness a proportional correction, as suppliers continued to maintain relatively firm offers due to constrained scrap availability.
Tight supply conditions have limited the scope for further price declines, with market participants expecting aluminium prices to strengthen once broader market conditions stabilise.
On the domestic front, trading activity also weakened. Following softer global aluminium prices, the domestic market also witnessed a decline.
Chinese silicon prices
According to BigMint's latest assessment, China-origin silicon metal 553 prices remained stable w-o-w at $1,435/t CFR Mundra, supported by firm import offers, steady demand, and stable market sentiment.
Outlook
