Wedoany.com Report on Mar 14th, The price of brass honey scrap in Jamnagar, Gujarat, India, has recently experienced a slight week-on-week increase. According to BigMint's assessment, the local ex-works price was INR 705,000 per tonne on March 13, up approximately 0.7% from the previous week's INR 700,000 per tonne. Market analysis indicates that tight supply and cautious buying have jointly influenced the price trend.
Jamnagar, a major brass manufacturing hub in India, is facing supply constraints. Several small and medium-sized processors have low inventories, forcing some buyers to pay a slight premium to ensure smooth production schedules.
The supply tightness is partly due to import disruptions. Supplies of brass scrap from the United Arab Emirates have continued to slow down. The region was once a significant source of mixed brass scrap for India. Traders point out that logistical uncertainties in the Middle East have affected cargo shipments, leading to a decline in shipping speeds.
Furthermore, suppliers from Europe and the United States have also raised their offers by about 2-3% due to reduced regional supply. Increased freight and insurance costs have further pushed up the landed prices for Indian importers.
Global copper price volatility has intensified market caution. The London Metal Exchange (LME) cash settlement price for copper rose from $12,750 per tonne on March 9 to $12,895 per tonne on March 12, while LME inventories increased from 294,250 tonnes to 312,350 tonnes. Price fluctuations have prompted some buyers to postpone bulk purchases and operate with limited inventories.
Domestic market demand remains stable, with manufacturers procuring materials as needed. However, traders report liquidity constraints in the recycling industry, with relatively small transaction sizes.
Looking ahead, brass honey scrap prices are expected to remain firm, supported by tight raw material supply and rising import costs. However, global copper price volatility and uncertainty in import flows may keep trading activity cautious.
