LME base metals prices decline d-o-d, stocks see mixed trends

• US copper duty threatens Indias chip plans
  
  
• Oil gains as Trump readies Russia statement
  
  

Base metals prices on the London Metal Exchange (LME) saw negative trends d-o-d, with zinc decreasing by 1.39% to $2,739/tonne (t). Meanwhile, inventories at LME-registered warehouses registered mixed movements d-o-d, with lead recording the highest decline of 1.19%.

Indian market overview

In India's non-ferrous metals markets, BigMint assessed domestic copper armature scrap at INR 810,000/t ex-Delhi, unchanged d-o-d. Aluminium Tense scrap prices remained stable d-o-d, with ex-Delhi at INR 197,000/t and ex-Chennai at INR 200,000/t.

Market updates

US copper duty may disrupt Indias chip ambitions

A steep 50% US tariff on copper imports, announced by Donald Trump, has raised concerns among Indian electronics and semiconductor players, who warn it could disrupt Indias chip-making momentum by tightening access to high-purity copper -- vital for components such as printed circuit boards (PCBs) and chip wiring. With domestic capacity lacking in semiconductor-grade copper, industry leaders are urging swift government action to ease import norms and boost local production to prevent rising costs and supply chain delays.

Oil inches up as markets await Trumps Russia stance

Oil prices edged higher as investors awaited a key statement from Donald Trump on Russia, which could lead to further sanctions and disrupt global supply. Gains were supported by geopolitical tensions and strong summer demand, though rising Saudi output and uncertainty around US tariff talks limited the upside. Meanwhile, the EU is pushing for a lower price cap on Russian oil.