Stable Prices in Indian Brass Honey Scrap Market Amid Firm Copper Cues

India's brass honey scrap prices remained stable week-over-week at INR 930,000 per tonne ex-warehouse Jamnagar as of September 18. The market saw renewed buying activity after the Janmashtami shutdown, with recyclers and ingot makers resuming operations in Jamnagar.

Tight availability of quality scrap kept seller offers firm, while cautious buying limited further gains. LME copper prices stood at $14,490 per tonne, up from $14,200 a week prior.

Overseas brass honey scrap offers remained elevated, supported by higher copper prices and limited availability. European and UK-origin material was offered at around 62% of the London Metal Exchange (LME) price, while Australian-origin scrap was available at 61-62% of LME.