India's Copper Scrap Prices Fall Amid LME Correction

Copper scrap prices in India fell due to the London Metal Exchange (LME) correction, which weighed on domestic replacement costs. The LME correction prompted cautious buying, with copper LME prices standing at $14,084/t, down from $14,709/t a week earlier.

Ahmedabad deals were heard near INR 1,306,000/t, while Ex-Delhi transactions ranged around INR 1,310,000-1,312,000/t. Buyers remained cautious due to the weaker US tariff outlook and higher interest rates that could weigh on commodities.

The LME correction has changed market sentiment, with a decline of around 4.25% in copper prices. Rising LME inventories added to the softer sentiment, while a stronger US dollar pressured industrial metals.