- US motor scrap gains even as imports slow
- Domestic scrap flows balanced through the week
Imported copper scrap prices in India slipped w-o-w, mirroring the downward trends in LME copper futures. Domestic copper scrap prices also eased, while overall market sentiment remained steady and stable.
According to BigMint’s assessment, Birch Cliff scrap was assessed at $9,870/tonne (t), down by 3.2% w-o-w, while US motors mix stood at $1,240/t (both CFR Mundra), up by 3.4% w-o-w.
LME copper prices fall w-o-w
Benchmark three-month LME copper prices stood at $10,803/t on 20 November 2025, down by 1.42% from $10,959/t recorded a week earlier.
Meanwhile, copper stocks at LME-registered warehouses stood at 157,925 t, up by 21,750 t compared to 136,175t in the previous week.
Market updates
Imported market scenario
Imported copper sentiment stayed mildly bearish as, tracking global prices as the rise in LME inventories reinforced a sense of comfortable near-term supply, prompting importers to slow fresh bookings and focus on clearing earlier cargoes.
Import premiums remained largely steady, but traders preferred defensive volumes as the weakening LME trend kept sentiment subdued.
Meanwhile, copper motor scrap continued to bypass India, with suppliers securing better netbacks in Pakistan and Western-region markets, limiting viability for domestic buyers.
Domestic market scenario
BigMint recently onboarded Brass honey scrap prices for Exw Jamnagar, The onboarding of Brass Honey EXW Jamnagar at INR 590/kg set a clear benchmark amid an unorganised domestic generation environment still reliant on imports.
India’s copper and brass scrap markets navigated softer global cues but steady domestic demand, resulting in a cautious international tone but stable sentiment at home.
Copper scrap sentiment remained grounded as cable, rod and semi-fabrication units maintained consistent procurement, keeping prices supported even as primary copper tracked LME declines.
Scrap values held firm, reflecting healthy downstream pull, with sellers under no pressure and availability balanced throughout the week. Millberry stayed flat at LME levels after previously trading at premiums, while brass scrap maintained firm and disciplined sentiment backed by strong intake from Jamnagar and northern manufacturing clusters.
With LME prices easing and inventories rising, traders are likely to continue a measured approach, supported by steady domestic flows and robust downstream consumption.
Outlook
Copper scrap markets are likely to remain rangebound in the near term, with weak LME cues and rising exchange inventories capping upside sentiment. Imported scrap prices may continue to face mild pressure as global prices soften and motor scrap flows stay diverted away from India. However, steady domestic demand, balanced availability, and firm brass scrap intake are expected to provide underlying support, keeping the domestic market relatively stable even if international prices remain volatile.
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