India: Brass honey scrap prices rise w-o-w on supply shortage, firm demand in Jamnagar

• Brass honey scrap prices rise 6% w-o-w in Jamnagar
• Buyers pay premiums for domestic and imported scrap

India’s brass honey scrap prices strengthened sharply in the week ended 21 Aug 2026, supported by robust demand and an acute shortage of material across key recycling and manufacturing centres. BigMint’s assessment assessed brass honey scrap prices at around INR 930,000/t exw-Jamnagar, up 6% week-on-week, as recyclers, ingot makers and component manufacturers intensified procurement amid limited spot availability.

The rally was largely driven by developments in Jamnagar, India’s largest brass manufacturing and recycling hub, where market participants reported exceptionally tight supply conditions. Several traders indicated that readily available brass honey scrap became increasingly scarce during the week, forcing buyers to compete aggressively for available lots. Trade levels were recently heard as high as INR 940/kg for select transactions, reflecting the urgency among consumers to secure feedstock.

The sharp rebound marks a notable shift from market conditions witnessed over the previous month. According to traders, declining global copper prices had weighed heavily on sentiment, with many participants opting to hold inventories purchased at elevated prices rather than liquidate stocks at losses. The resulting reduction in trading activity and slower deal closures constrained market liquidity. However, sentiment improved considerably in August as downstream demand recovered and material availability tightened.

Market participants noted that demand from brass rod manufacturers, component producers and exporters remained healthy despite elevated price levels. Buyers were reportedly willing to pay premiums for both domestic and imported scrap cargoes to ensure uninterrupted production schedules. Imported offers also remained firm as suppliers attempted to align prices with higher replacement costs and improving domestic market fundamentals.

In western India, shredded brass scrap transactions in Mumbai were largely heard in the range of INR 920-925/kg, with sellers maintaining a firm stance amid limited inventories. Traders reported that offers were frequently revised upward during negotiations as replacement material remained difficult to source.

Meanwhile, the London Metal Exchange (LME) copper price at around $14,000/t on 21 Aug continued to influence imported scrap offers and broader market sentiment. However, several market participants suggested that current domestic price movements were being driven more by physical shortages than by benchmark copper fluctuations.

Industry feedback suggests supply constraints could persist through the remainder of August. With scrap arrivals remaining limited and procurement requirements intact, market participants expect prices to remain elevated unless a meaningful improvement in collection volumes or import arrivals emerges. For now, the brass scrap market remains firmly seller-driven, with availability rather than price emerging as the primary concern for consumers.