- Imported Millberry scrap sees strong buying interest
- Buyers pay premiums for high-grade copper scrap
Imported copper scrap prices in India saw a positive trend w-o-w, following a slight gain in London Metal Exchange (LME) copper futures to $9,862/tonne (t). Meanwhile, domestic copper scrap prices were stable w-o-w.
According to BigMint’s assessment, Birch Cliff scrap was assessed at $9,280/t, up by $70/t w-o-w, while US motors mix stood at $1,170/t (both CFR Mundra), largely stable w-o-w.
LME copper prices inch up
LME futures increased slightly by $66/t to $9,862/t compared with last week’s $9,755/t. Meanwhile, copper stocks at LME-registered warehouses stood at 158,775 t, up by 2,800 t compared to 155,975 t in the previous week.
By December 2025, LME copper prices are projected to average around $9,700/t, supported by tariff-driven declines in ex-US inventories and resilient Chinese sentiment and demand, which are expected to underpin market stability through year-end.
Market updates
India’s copper scrap market saw robust demand, with buyers paying premiums over LME tags for imported Millberry. However, global cues remained uncertain, as US policy decisions continued to heavily influence market sentiment and pricing trends.
Prices
- Middle East Millberry: LME + $200/t
- Birch/Cliff (Singapore/Malaysia): 92% LME
- Birch/Cliff (USA origin): 94% CIF West Coast
- Candy/Berry (Singapore/Malaysia): 95% LME
Millberry (China origin, 98.5% purity), recognised as industrial-grade copper feedstock, was offered at LME less $400-500/t, reportedly sourced by some primary players.
Meat Balls 20% (UK/Netherlands) were heard at $1,850/t, with some quantity traded last month, while Talk scrap (EU/Poland) was assessed at 53.75% LME.
Meanwhile, the domestic copper scrap market stayed firm w-o-w, supported by steady domestic demand and slight gains in LME prices.
In India’s non-ferrous metals markets, BigMint assessed domestic copper armature scrap at INR 800,000/t ex-Delhi, up by INR 6,000/t w-o-w.
Although buying momentum picked up, market participants continued to adopt a cautious wait-and-watch approach, shaped by domestic dynamics and global price movements. In the imported scrap segment, trading volumes held steady, though buyers remained highly selective amid fluctuations in global copper prices and ongoing currency volatility.
Overall, while fundamentals remain supportive, the domestic market is showing early signs of cooling as participants closely monitor macroeconomic and currency trends before making fresh commitments.
Scrap imports rise sharply in 7MCY’25
India’s copper scrap imports rose sharply by 36% in the first seven months of 2025 to 229,548 t, supported by strong demand from the cable, power, and construction sectors, along with zero import duty and easier norms. Scrap inflows rose steadily through the period, peaking at 44,005 t in July, almost double the volume of imports in January.
Outlook
India’s copper scrap market is expected to remain supported in the near term, with steady domestic demand and premiums on high-grade imports likely to sustain firm pricing. However, global uncertainty, driven by US policy actions, currency volatility, and fluctuations in LME prices, may keep trade sentiment cautious. Demand could see further traction ahead of the festive season, though participants are likely to remain selective until clearer macro signals emerge.
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