Indian Copper Scrap Market Firm Amid Elevated LME Prices and Festive-Season Demand
India's copper scrap market was firm during the latest assessment on September 29, driven by elevated London Metal Exchange (LME) copper prices and reduced spot availability from major exporting regions. The LME copper price had declined to $14,470/t, down from a record high of $14,700/t a week earlier.
The copper armature scrap price was heard at INR 1,343,000/t ex-Delhi, down from INR 1,350,000/t in the previous assessment. Buyers have become increasingly reluctant to raise purchase bids with every move higher in the benchmark, making them more price-sensitive.
Festive-season buying is likely to support domestic demand as recyclers and secondary manufacturers replenish inventories, particularly for high-recovery grades. However, elevated LME prices are expected to keep buyers cautious towards imported material, limiting aggressive import buying.