LME base metals prices see positive trends d-o-d, stocks witness outflows

• EV boom drives Indonesia's nickel expansion
  
  
• Copper tags rise, Hindustan Copper shares soar
  
  

Base metals prices on the London Metal Exchange (LME) saw positive trends d-o-d, with copper increasing by 1.93% to $9,900/tonne (t). Meanwhile, inventories at LME-registered warehouses saw negative trends d-o-d, with zinc recording the highest decline of 2.46%.

Indian market overview

In India's non-ferrous metals markets, BigMint assessed domestic copper armature scrap at INR 819,000/t ex-Delhi, up by INR 3,000/t 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 198,000/t.

Market updates

EV rise fuels Indonesias nickel boom but brings environmental harm

Indonesia, the worlds top nickel producer, plays a vital role in powering the global electric vehicle (EV) transition. With over 2.2 mnt of output in 2023, nickel demand has surged as EV battery usage grows. However, the expansion of open-pit mining, especially on Sulawesi and Maluku islands, has triggered large-scale deforestation, soil and water pollution, and health issues for local communities. Environmental activists warn that while nickel brings economic gains, it threatens Indonesias rich biodiversity and ecological balance.

Hindustan Copper shares jump 15% in 6 sessions on rising global prices

Hindustan Copper shares jumped 15% over six sessions, driven by a rally in global copper prices amid supply concerns and potential US tariffs. Copper prices rose above $11,300/t on the Comex. The supply crunch, despite a global surplus, has raised fears of regional shortages. Supporting the stock's momentum, Hindustan Copper posted a 52% jump in Q4 profit to INR 189.48 crore and saw its revenue rise to INR 777.28 crore. The company also signed a new tripartite agreement, enhancing its operational outlook.