Copper Scrap Prices Rise as Chinese Demand Strengthens Amid Tight Domestic Supplies
The Indian copper scrap market has seen prices increase week-over-week as Chinese demand for global scrap supply remains strong. This is due in part to tight domestic supplies in China, where elevated freight costs and festive demand have driven up physical availability.
LME copper prices remain near record highs at $14,700/t, keeping replacement costs elevated for importers. As a result, exporters are prioritizing sales to China, which has limited scrap availability for Indian consumers.
Copper armature scrap prices in India have risen sharply to INR 1,350,000/t from INR 1,310,000/t ex Delhi, while Chinese buyers continue to attract larger volumes of material from suppliers in the US and Europe. This has led to longer procurement cycles and fewer spot offers for Indian consumers.