India’s copper market is heating up—for the first time in recent months, spot rates have breached ₹1,000/kg, and scrap dealers are seeing stronger bids. Behind this surge lies a tightening of global supply, increased demand from renewable and EV sectors, and evolving dynamics in the Indian scrap ecosystem.
Market Overview
A combination of unexpected mine closures overseas and elevated demand from Asia has pushed the global copper benchmark above US $11,000 per tonne. For India, this translates into spot levels of around ₹1,010/kg, and holding bids for high-purity (> 99 %) copper turning scrap have climbed accordingly.
Price Highlights
| Metal | Price (₹/kg) | Change | Note |
|---|---|---|---|
| Copper | ₹1,010 | +1.0% | Spot India |
| Aluminium | ₹225 | +2.0% | Estimated scrap benchmark |
| Zinc | ₹310 | +2.8% | Galvanizing demand |
| Nickel | ₹1,550 | +3.2% | Battery & stainless steel |
| Lead | ₹160 | +1.5% | Secondary market |
What’s Driving the Move?
Demand / Supply: Global mine production fell short due to labour strikes and regulatory delays.
Costs / Logistics: Rising freight and energy costs weigh on landed scrap price, pushing up final rates.
Policy Influence: India’s import duty on copper (currently ~50 %) is under WTO scrutiny — uncertainty adds premium to domestic sourcing.
FX Impact: The rupee holding near ₹84/USD increases INR equivalent of USD-denominated metal prices.
Global Signals & India Impact
With LME copper topping US $11,137/tonne, each US $100/tonne (~₹8-9/kg) gain is meaningful for Indian operators. If the upward trend holds, Indian scrap markets could see ₹1,050-₹1,100/kg levels.
What It Means for Scrap Dealers & Recyclers
Pricing: Sellers should aim above ₹1,000/kg for high-purity turning scrap in Delhi NCR and major hubs.
Timing: With buyers more aggressive, now is a favourable moment to book lots and negotiate pickup.
Risk: Purity drops (below 95 %) may erode margins despite headline gains—quality control is key.
Outlook (Next 7-14 Days)
Base Case: Stable to mild upside — ₹990-₹1,050/kg for prompt lots.
Upside: ₹1,100/kg possible if another major mine outage occurs.
Downside: A stronger USD or weaker China demand could pull rates back to ~₹950/kg.
To stay ahead in this dynamic market, monitor our Live Rates dashboard, use the Tools for estimations, and explore Listings to connect. At MetalSignals, we keep you informed, so you’re not just reacting — you’re planning.
