- Chinese demand strengthens amid tight domestic supply
- Elevated freights, festive demand lift domestic prices
India’s imported copper scrap market remained firm during the assessment week ended 23 September 2026 as London Metal Exchange (LME) copper prices remained elevated at $14,700/t, near record highs, while stronger Chinese buying interest and higher freight costs continued to tighten physical availability across key grades. Reduced spot offers from major exporting regions and improved domestic procurement ahead of the festive season supported copper scrap prices across several segments.
As per BigMint’s assessment, copper armature scrap prices were heard at INR 1,350,000/t, rising sharply from INR 1,310,000/t ex Delhi. Higher LME copper prices have kept replacement costs elevated for importers. At the same time, Chinese consumers have remained active in the international market amid tight domestic scrap availability, attracting larger volumes from suppliers in the US and Europe. Market participants indicated that exporters are increasingly prioritising sales to China due to stronger demand and better realised premiums.
Chinese demand limits availability
Physical scrap availability has tightened, particularly for higher-recovery copper scrap grades. Chinese consumers have continued restocking activity, absorbing material that would traditionally be offered to other Asian destinations.
Market sources noted that the price gap offered by Chinese buyers has widened in recent weeks, encouraging exporters to divert cargoes towards China. As a result, Indian consumers are facing longer procurement cycles and fewer spot offers across key copper-bearing scrap grades.
European market remains mixed
Spot demand in Europe remained uneven, with buying interest varying across regions and consumer segments. Improved local availability provided buyers with greater negotiating leverage and weighed on premiums.
However, stronger Chinese procurement limited further downside pressure by absorbing internationally available scrap units and preventing excess material from entering the European market.
Freight costs pressure imports
Freight economics have added another layer of pressure on Indian imports. Market participants estimated that shipments from the US West Coast and East Coast to Visakhapatnam currently carry freight costs around $25-30/t higher than cargoes destined for Mundra.
The higher logistics cost has particularly affected imports of premium grades such as Millberry, reducing cargo movement into eastern India and increasing replacement costs for buyers.
Copper motors scrap market
In the copper motors scrap segment, mixed motors were heard traded at around $1,700/t CFR Nhava Sheva. Meanwhile, Pakistani buyers were reportedly securing similar material from the US at around $1,800/t CFR, maintaining a premium over Indian bids and attracting additional supply away from India.
Domestic market sentiment improves
Domestic markets reflected the tighter supply environment. Copper armature scrap prices were reported at around INR 1,350,000-1,360,000/t, with transactions concluded within this range.
Buying activity has improved ahead of the festive season, with recyclers and secondary manufacturers increasing inventory purchases amid concerns over tighter imported supply and sustained strength in international copper prices.
Offers
- Millberry (US/EU origin): 101% of LME, CIF China
- Millberry (US/EU origin): 99% of LME, CIF India
- Candy Berry: 98.25% of LME, CIF China
- Candy Berry: 96.5% of LME, CIF India
- Birch Cliff: 93% of LME, CIF China
- Birch Cliff: 92% of LME, CIF India
- Brass Honey: 61.25% of LME (equivalent basis)
- Meatballs: $2,820-2,850/t CFR India
Outlook
Copper scrap availability in India may remain constrained through the coming weeks if Chinese buying interest continues at current levels and freight costs remain elevated. Market participants are expected to closely monitor Chinese import demand, freight movements and LME copper price trends, as these factors are likely to remain the key drivers of scrap procurement costs and spot availability.
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