- Middle Eastern scrap arrivals improve; US offers soften
- Strong Chinese demand supports Indian exports
According to BigMint’s assessment brass honey scrap prices in India remained stable w-o-w at around INR 816,000/t, as steady imported scrap availability and balanced buying activity kept the market rangebound.
In Jamnagar, India’s key brass manufacturing hub, market participants said buying activity from brass rod makers and component manufacturers remained moderate. Most processors continued purchasing material only against confirmed orders due to volatility in copper prices over the past few weeks.
LME copper prices were recorded at $13,640/t, rangebound w-o-w.
Traders said imported scrap inflows improved during the week, particularly from the Middle East market, as container movement gradually normalised. Market participants noted that fresh ME containers started arriving at western Indian ports, improving spot material availability for processors in Gujarat.
European brass honey scrap sellers were reportedly offering material at around 59% of LME copper prices during the week. Meanwhile, US-origin sellers reduced their offers to nearly 61.5% for 2% attachment material, reflecting competitive pressure in the Asian scrap market.
According to importers, the correction in US offers supported buying interest from India, especially from medium-scale Jamnagar processors looking to secure lower-cost raw material amid fluctuating finished brass product demand.
Local Jamnagar brass honey scrap sentiment improved slightly during the week, with some spot trades also heard near INR 820/kg amid better buying interest from brass processors. On the export side, sentiment remained supported as India-origin brass ingot offers into the Chinese market were last heard around 63% CIF China basis, reflecting continued overseas demand for secondary brass material.
Market participants further stated that imported scrap trading activity improved slightly compared to previous weeks as buyers expected better availability in coming shipments. However, large-volume bookings still remained limited because processors were closely monitoring copper price movements before taking fresh positions.
On the export side, Jamnagar-based brass component manufacturers said overseas enquiries remained active, particularly from China-linked trading channels and select Asian buyers. Traders noted that China’s brass and copper scrap demand continued to remain positive, which supported overall export sentiment for finished brass products and semi-finished materials.
Several exporters indicated that demand for brass fittings, sanitary parts, electrical connectors, and precision-turned components from Asian markets remained comparatively better than Europe. Some participants also said Chinese demand for copper and brass-containing materials indirectly supported sentiment across the Indian secondary brass market.
At the same time, local manufacturers highlighted that conversion margins remained narrow because finished product buyers were resisting sharp price increases despite elevated scrap procurement costs.
Overall, the Indian brass honey scrap market remained stable this week, supported by improved imported scrap arrivals, competitive overseas offers, and continued export-linked demand from Asian markets, particularly China.
Leave a Reply