- Indian copper scrap buying remained cautious amid volatile copper prices.
- Middle East scrap bookings gradually resumed across western Indian ports.
Copper scrap prices in India declined marginally w-o-w on 27 May’26, tracking the correction in London Metal Exchange (LME) copper prices, which rose around by $250/t to around $13,650/t from $13,400/t a week back. The strong global copper trend weighed on imported and domestic scrap offers across Indian markets, while market activity remained largely requirement-driven amid cautious buying sentiment.
At the domestic level, buying activity remained largely requirement-driven across key trading hubs. According to BigMint’s assessment, Copper Armature scrap, ex-Delhi, rose to around 3% w-o-w to INR 1,240,000/t from INR 1,206,000/t last week.
In the imported scrap segment, EU-origin Brass Honey increased to 59.5-60.25% of 3M LME CFR Nhava Sheva from 59-59.25% last week. Meanwhile, US-origin Copper Motor scrap, CFR Mundra, increased by $30/t w-o-w to around $1,680/t from $1,650/t last week, with buying activity in India remaining largely need-based at prevailing price levels.
Market insight
Indian copper scrap market sentiment remained cautious but relatively stable during the week, as most consumers continued booking material only against immediate production requirements amid continued volatility in LME and MCX copper prices.
In north India, secondary copper rod manufacturers in Delhi and Haryana remained active in the domestic scrap market, particularly for Armature, Candy and Birch-based material, as steady demand from cable and winding wire sectors supported regular consumption. However, market participants noted that buyers avoided large-volume stocking and preferred staggered procurement due to uncertainty over short-term copper price direction.
In western India, imported copper scrap activity at Mundra and Nhava Sheva improved slightly during the week as fresh Middle East-origin bookings gradually started entering the market after limited arrivals earlier this month. Traders indicated that UAE-origin copper scrap enquiries increased from western India-based rod and tube manufacturers, particularly for high-copper recovery grades.
Imported Copper Motor scrap sentiment remained firm as overseas sellers, especially from the US market, maintained elevated offer levels amid tighter collection availability and stronger domestic US copper prices. However, Indian buyers showed resistance at prevailing offer levels, resulting in slower transaction closures and extended negotiations for spot cargoes.
Market participants also highlighted that relatively improved domestic cathode availability marginally reduced pressure on several larger wire rod manufacturers to aggressively secure imported copper scrap cargoes. Overall, the Indian copper scrap market remained operationally active but highly price-sensitive, with procurement decisions continuing to remain closely linked to daily movement in global copper prices and import offer fluctuations.
Outlook
Indian copper scrap demand is expected to remain firm, supported by steady consumption from cable, rod and tube manufacturers. However, procurement activity is likely to remain need-based amid continued volatility in LME copper prices, while firm overseas offers may continue supporting imported scrap sentiment.
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