- Copper scrap prices firm to bullish on tight supply and strong LME
- Sellers dominate; buyers paying premiums for clean grades
Imported copper scrap prices in India saw an uptrend w-o-w, following a gain in London Metal Exchange (LME) copper futures, which hit a 16-month high and remained high levels currently and remained at around $10260/t. Parallelly, domestic copper scrap prices increased w-o-w.
According to BigMint’s assessment, Birch Cliff scrap was assessed at $9,550/tonne (t), up by 4% w-o-w, while US motors mix stood at $1,190/t (both CFR Mundra), rangebound w-o-w.
Domestic copper scrap prices have similarly increased during this period, reflecting tight global supply conditions exacerbated by disruptions at Indonesia’s Grasberg mine and constrained refined output in China.
The Grasberg mine mudslide is estimated to have removed approximately 3% of global copper supply, expected to impact the market until early 2027, further tightening the supply-demand balance.
A trader source stated “Import copper scrap offers in India are staying on the stronger side, with sellers holding firm on Birch Cliff and Berry amid a bullish LME backdrop. Buyers note that even small dips are being quickly absorbed, keeping the market well-supported”.
Another source stated “Scrap yards in India are not ready to sell clean copper cheaply, as replacement costs are high and supply after the rains is still tight. This is keeping high-quality material more expensive, especially in western India. Secondary smelters say profits are under pressure, but demand from cable makers and the auto sector remains strong. Ahead of Diwali, festive buying is also adding support and stopping any big price drop. Overall, the market mood is firm and slightly bullish, with Indian buyers ready to pay more for imported scrap, while sellers are holding prices steady”.
Outlook
In this environment, Indian importers are actively sourcing high-quality scrap to meet manufacturing demand, while domestic scrap prices respond strongly to international price signals and tightening supplies. Overall, the copper scrap market outlook remains bullish amid these supply constraints and rising industrial consumption.
Copper scrap prices in India are likely to stay on the stronger side in the short term. Tight supply after the Grasberg disruption, firm LME levels, and festive season demand in India are expected to keep sellers in control. Unless global prices correct sharply, buyers may have to continue paying a premium for clean, high-grade scrap.
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