Industrial Market Update
Advisory Bazaar Info Services
Base Metals: Mixed Trading in LME and China
LME copper futures rose $82 to $14,416/tonne. Zinc gained $34 to $3,946/tonne, while nickel increased $60 to $16,846/tonne. Aluminium declined marginally by $18 to $3,294/tonne.
Inventory movements indicated mixed supply-demand conditions. Copper and zinc inventories increased, while lead and aluminium inventories declined.
According to LME data, copper inventories fell by 475 tonnes, while zinc inventories increased by 1,675 tonnes. Lead inventories declined by 4,850 tonnes.
Warehouse receipts at the Shanghai Futures Exchange (SHFE) also showed a mixed trend, with inventories of some metals declining while others increased.
SHFE Base Metals
In the SHFE market, copper futures rose 0.16% to 109,290 yuan/tonne, zinc gained 0.97% to 27,005 yuan/tonne, and lead increased 0.09% to 16,130 yuan/tonne. Aluminium declined 0.23%.
Overall, the Shanghai base metals market remained cautious but firm, with zinc recording the strongest gain among the major base metals.
Gold and Silver Gain
In early trading on September 4, SHFE gold futures rose 2.12% to 972.24 yuan/gram, while silver futures gained 2.93% to 16,427 yuan/kg.
Spot gold and silver in London also posted modest gains, reflecting cautious investor sentiment amid continued volatility in global markets.
Industrial and Commodity Market Developments
The Indonesian government announced that new regulations for the Minerals and Strategic Commodities Exchange (BMKS) are expected to be issued by September 17, 2026, with final details to be determined through a presidential order.
Meanwhile, the new nickel ore drying system at Guangxi Liuzhou Liugang Zhongjin has successfully completed load trial production. The development is expected to improve raw-material availability for greener and lower-emission nickel smelting.
Mining Activity and Supply Developments
Dundas Minerals secured nine exploration permits in North Kalgoorlie, expanding its mining rights along a high-grade gold belt.
In the copper sector, Faraday Copper announced plans to acquire BHP’s San Manuel mine, potentially creating a major copper resource cluster containing more than 18 billion pounds of copper. Drilling results are expected to support the project’s long-term production potential.
Similarly, Cuprum Metals has secured full control of the Lee Creek Copper Mine in South Australia, paving the way for project financing and plans to restart operations.
Geopolitical and Regulatory Developments
Zhang Guoqing attended the 32nd APEC Ministerial Meeting in Guangzhou, where regional cooperation and support for small and medium-sized enterprises (SMEs) were highlighted.
Meanwhile, Indonesia’s upcoming regulations covering minerals and strategic commodities could play an important role in shaping future trading, resource-management and supply strategies.