en.Wedoany.com Reported - In the week ending June 10, 2026, India's copper scrap market prices declined in line with international benchmark prices. London Metal Exchange (LME) copper futures fell by $400/tonne to approximately $13,430/tonne due to profit-taking and a stronger US dollar, dampening domestic scrap trading sentiment. Copper armature scrap, ex-Delhi, fell by about 2% week-on-week to INR 1,260,000 per tonne, compared to INR 1,280,000 per tonne the previous week.
Domestic market sentiment in India showed significant volatility, with buyers remaining cautious amid fluctuating import scrap quotations and widening bid-ask spreads. Secondary manufacturers in North India continued to procure on a need-to-basis due to high prices and uncertain overseas supply. To alleviate the domestic supply gap, Hindustan Copper Ltd. (HCL) restarted the Kendadih copper mine after nearly 25 years of shutdown, planning an annual output of 225,000 tonnes of ore. Meanwhile, HCL aims to expand the capacity of the Surda mine from 400,000 tonnes per year to 900,000 tonnes per year. Additionally, HCL signed a 20-year agreement with LOHUM to restart the Gujarat Copper Project in Jhagadia, Gujarat, which includes a secondary copper smelter and refinery with an annual capacity of 50,000 tonnes, reflecting India's intensified efforts to boost domestic copper supply.
The European copper scrap market sentiment remained firm, supported by strong Asian export demand and limited local supply. The payable rate for Copper Berry/Candy rose to 96.5-97% of the LME copper price, Birch Cliff scrap increased to 90.5-91%, and Millberry prices stabilized at 97.5-98%. Asian buying interest supported European export quotations, putting pressure on local consumers to match higher price levels. Market participants noted that Asian demand is increasingly influencing European copper scrap pricing trends.
Looking ahead, the Indian copper scrap market is expected to remain cautiously firm against the backdrop of tight import supply and persistently constrained global supply. Trading activity may continue to fluctuate, with regional price disparities persisting. Demand from semi-finished and secondary manufacturers is likely to support import scrap quotations in the short term.
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