en.Wedoany.com Reported - On April 16, 2026, prices for base metals on the London Metal Exchange mostly rose compared to the previous day, driven primarily by macroeconomic signals and persistent supply risks. Zinc prices increased by 0.79% to $3,424 per ton, aluminum prices rose by 0.61% to $3,644 per ton, nickel prices gained 0.58% to $18,239 per ton, copper prices edged up 0.17% to $13,271 per ton, while lead prices fell by 0.66% to $1,953 per ton. Regarding inventories, aluminum stocks decreased by 0.56% to 393,775 tons, nickel stocks dropped by 0.54% to 278,064 tons, and lead stocks declined by 0.32% to 275,975 tons; copper stocks rose by 0.50% to 402,625 tons, and zinc stocks increased by 0.47% to 116,475 tons.
The Indian non-ferrous scrap market showed mixed movements. The price for aluminum tight scrap delivered in Delhi increased by 500 Indian Rupees per ton to 290,000 Indian Rupees per ton, a rise of 0.2%; the delivered price in Chennai rose from 305,000 Indian Rupees per ton by 2,000 Indian Rupees per ton to 307,000 Indian Rupees per ton. The price for copper armature scrap delivered in Delhi fell from 1,150,000 Indian Rupees per ton by 5,000 Indian Rupees per ton to 1,145,000 Indian Rupees per ton, a decrease of 0.4%.
Canadian mining giant Rio Tinto has commissioned a C$135 million alumina conveying system at its Kitimat smelter in Canada. The 1.1-kilometer-long system is designed with an annual transport capacity of approximately 800,000 tons of alumina and has a service life of nearly 50 years. It aims to replace aging infrastructure and improve reliability. Rio Tinto stated that the system will reduce downtime and minimize dust emissions and spillage. Egypt is in negotiations with China's Henan Zhongfu Industrial to secure up to $2 billion in investment for establishing aluminum manufacturing facilities in the Suez Canal Economic Zone (East Port Said). The proposed project, covering about 1 square kilometer, will focus on producing aluminum sheets, battery components, and value-added products for the automotive, railway, and aerospace sectors, and is expected to create nearly 3,000 jobs.
The International Energy Agency (IEA) estimates that it could take about two years for energy production losses in the Middle East to recover, affected by ongoing geopolitical disruptions. The crisis triggered by conflicts and the closure of the Strait of Hormuz has disrupted new oil shipments, leading to emerging supply shortages. The IEA warns that the market may be underestimating long-term supply risks, and energy prices could rise with persistent volatility. After the United States did not extend sanctions waivers for Russian and Iranian oil, Indian refiners are actively procuring additional crude cargoes to ensure stable domestic fuel supply. Supported by China's first-quarter GDP growth of 5% and strong U.S. data (including lower-than-expected jobless claims of 207,000), nickel prices on the London Metal Exchange rose to $18,239 per ton.
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