India's Copper Scrap Market Sees Price Surge Amid Record LME Highs
India's copper scrap market is experiencing a surge in prices, driven by record highs on the London Metal Exchange (LME) at around $14,700/t. This has led to caution among Indian buyers, who are hesitant to commit to large-volume purchases due to concerns over potential tariffs and volatility in global markets.
Tight domestic supply, elevated import costs, and stronger global copper prices continue to support market sentiment. Despite some improvement in scrap yard inventories, copper armature scrap, ex-Delhi, was assessed at INR 1,340,000/t, up from INR 1,300,000/t a week earlier.
Market participants reported multiple transactions during the assessment week, reflecting stronger buying interest despite constrained spot availability. However, trading activity was largely limited to immediate requirements, with buyers showing little appetite for stock-building amid uncertainty over near-term price direction.