- Imported motor scrap less attractive for many buyers
- High-grade imported scrap attracts selective buying interest
Imported copper scrap prices in India saw mixed trends w-o-w amid a slight decline in London Metal Exchange (LME) futures. Meanwhile, domestic copper scrap prices decreased w-o-w amid limited availability.
According to BigMint’s assessment, Birch Cliff scrap was assessed at $9,925/tonne (t), down by 1% w-o-w, while US motors mix stood at $1,180/t (both CFR Mundra), down by 1.6% w-o-w.
LME copper corrects 2% after 16-month high
The benchmark three-month copper contract on the London Metal Exchange (LME) settled at $10,578/t on 14 October 2025, marking a modest 2% drop from 7 October, when prices had briefly touched a 16-month high above $10,700/t. This pullback is largely attributed to a recalibration of speculative positions, rather than any significant change in the underlying supply-demand fundamentals.
Imported market scenario
India’s imported copper scrap volumes rose month-on-month (m-o-m) in September. Imports increased to 46,238 t, up from 41,948 t in August, marking a 10.2% m-o-m rise.
The European copper scrap market remained stable this week, supported by steady liquidity and consistent trading across key regions. Participants noted that transaction prices firmed in tandem with the rise in LME copper, lending stability to payables after recent volatility.
Prices (CIF China)
- Millberry (EU): 98.5% LME
- Candyberry (EU): 97% LME
- Birch/Cliff (EU): 94.5% LME
Birch/Cliff imports from Germany to Chennai are currently being booked at approximately 92.5% of LME. Meanwhile, Brass Honey shipments from the UK are trading around 59.25% of LME, factoring in 6-7% impurities on a CIF basis at Mundra port.
Meanwhile, UAE Birch/Cliff is being offered at 93.5-94% of LME, while UAE Candyberry is trading around 97.5% of LME. UAE Brass Honey with 4% impurities is assessed at 64% of LME. Millberry is steady at flat LME for US/EU, with an additional premium of $100/t. High-grade Druid from the US and Australia is indicated at 91% of LME.
Indian market updates
Copper market sentiment in north India softened slightly this week, mirroring the cooling trend in LME prices. Buying activity has eased compared with last week, as traders turn cautious amid weaker global cues.
Nevertheless, domestic demand remains resilient, supported by consistent offtake from wire, cable, and engineering segments. Despite the dip in LME prices, imported motor scrap remains unattractive for many buyers, as higher-grade material continues to fetch better returns in Pakistan and Far East markets.
In Delhi and Gujarat, demand sentiment is upbeat ahead of Diwali, with fabricators and downstream units actively restocking inventories to meet festive-season manufacturing needs.
Overall, the market outlook stays moderately positive, underpinned by strong end-user demand despite global benchmarks showing signs of consolidation.
Outlook
Indian copper scrap prices are likely to consolidate in the near term. Despite a 3% correction in LME copper from a 16-month high, domestic demand remains supported by wire, cable, and engineering sectors, along with festival-season restocking in Delhi and Gujarat. Imported high-grade scrap, including Millberry, Candyberry, and Birch/Cliff, continues to attract selective buying, while lower-grade material faces limited interest. Overall, the market may see stable to moderately firm trends, driven by steady end-user demand and healthy import volumes.
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