Indian copper scrap prices showed an uptrend this week, following trends prevailing on the London Metal Exchange (LME) platform. Copper armature scrap was assessed at INR 790,000/tonne (t) ex-Delhi, while motors mix was stable w-o-w at $1,150/t.
LME futures went up by $70/t at $9,640/t compared with last week’s $9,570/t. Meanwhile, copper stocks at LME-registered warehouses stood at 143,850 t, down 8,500 t compared to 152,400 t the previous week.
Secondary continuously cast rods (CCRs) (99.90%) were assessed at INR 854,000/t ex-Delhi, marginally up w-o-w. Meanwhile, primary CCR prices stood at INR 885,000/t, rising by up to 8,000/t w-o-w.
Market insight
Copper scrap demand remains strong, with buyers actively purchasing in expectation of further price increases.
A trader source stated, “Domestic copper scrap availability has been good of late, Domestic copper scrap availability remains healthy, but demand in the finished segment continues to lag, especially with seasonal slowdown affecting offtake. Raw material prices remain elevated, putting pressure on conversion margins. As a result, the market has adopted a cautious “wait-and-watch” stance. Imported copper scrap offers remain high, further limiting active buying.
Traders report that Pakistan is offering better realization for copper motor scrap—reportedly over $70/tonne higher than Indian buyers-prompting suppliers to prioritize exports. Meanwhile, Chinese buyers are quoting up to 98.5% for candy berry, increasing outbound interest. Millberry copper, on the other hand, is reportedly trading flat or with slight premiums over LME in the Indian market, reflecting tight supply and firm global cues.
A source mentioned “A new copper manufacturing facility, Kathushyam Copper, is set to commence operations in Rajasthan within the next four months. The plant will specialize in producing continuous cast (CC) wire rods, utilizing China-origin machinery. This development is expected to gradually enhance domestic supply capacity and influence regional pricing dynamics in the copper rod segment, especially in the secondary market”.
Currently, copper prices in the Indian market reflect a relatively stable trend. Millberry copper is trading at ₹810-811/kg, while candy berry is quoted slightly lower at ₹791-792/kg. Armature scrap is offered at ₹786/kg. In finished products, In the brass segment, brass honey is at ₹564/kg, and birch cliff scrap is trading at ₹756/kg.
How were Copper scrap imports in Apr’25?
India’s copper scrap imports rose by 2.4% m-o-m in Apr’25, reaching 30,779 t compared to 30,070 t in Mar’25 and higher 32% as compared to Feb’25. According to trade sources, this uptick is primarily attributed to anticipation of tighter domestic scrap availability in the coming months, coupled with strong replacement demand in the electrical and wire rod manufacturing segments.
Outlook
The Indian copper scrap market is expected to remain firm in the near term, Market participants anticipate continued competition for available scrap, potentially leading to further price increases.
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