- Premium grades remain in short supply
- Higher import costs support domestic market
India’s copper scrap market remained firm in the week ended 26 August 2026, supported by steady demand from wire rod, cable, brass and alloy manufacturers, alongside limited availability of premium-grade scrap. Tight domestic supply, elevated import costs and stronger global copper prices continued to support market sentiment despite some improvement in scrap yard inventories.
According to BigMint’s assessment, copper armature scrap, ex-Delhi, was assessed at INR 1,310,000/t (INR 1,310/kg), up from INR 1,280,000/t a week earlier. Market participants reported multiple transactions around INR 1,310/kg during the assessment period, reflecting stronger buying interest and constrained spot availability.
Global copper market lends support
The domestic scrap market continued to draw support from the international copper complex. LME copper prices increased to around $14,300/t during the week from nearly $13,950/t previously.
Market participants attributed the strength to tightening global availability of both refined copper and copper scrap, lower exchange inventories and expectations of improved demand from key consuming regions. Although prices remained volatile throughout the week, the overall market direction stayed positive.
Premium-grade scrap availability remains tight
Domestic traders indicated that availability of high-copper-content grades, particularly Millberry and candy and birch cliff scrap, remained limited, also Copper motors prices are unviable for India as most of the material is absorbed by Pakistan buyers at around $1760-1780/t.
While some suppliers acknowledged adequate material availability in scrap yards, frequent price fluctuations discouraged immediate sales. Many suppliers preferred to hold inventories in anticipation of further gains, reducing spot liquidity and supporting higher offers across the market.
Import market faces supply-side challenges
Imported copper scrap continued to face supply constraints and elevated offer levels. Indian buyers have remained active in overseas markets since May 2026, initially accelerating purchases amid concerns over potential US tariff measures and tighter global scrap availability.
However, international quotations have remained high, limiting import attractiveness. Market participants also pointed to recent policy developments in key exporting regions, particularly the UAE’s temporary restrictions on selected scrap exports, which have reduced availability for Asian consumers.
At the same time, suppliers from Europe and America continued to offer material at elevated levels, supported by stronger copper prices and healthy buying interest across multiple destinations.
Buyers compete for limited cargoes
Several importers reported that large Indian consumers were willing to pay higher premiums to secure prompt shipments of cleaner and higher-grade scrap.
Expectations of additional price increases in the coming months have encouraged inventory building whenever material becomes available. This has intensified competition for limited cargoes and supported higher import premiums.
Outlook
Market sentiment remains cautiously bullish. Demand from the electrical, infrastructure and manufacturing sectors continues to support copper consumption, while tight availability of quality scrap, elevated import costs and supply disruptions from key exporting regions are keeping the market well supported.
Unless global scrap collection improves significantly or export availability increases from major supplying countries, Indian copper scrap prices may remain firm through September, with premium-grade material likely to continue commanding substantial premiums over lower-grade alternatives.
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