India Copper Scrap Prices Fall 2.51% in Late March on Inventory Surge

India’s copper scrap market softened throughout March xxxx, as prices declined due to cheaper imported arrivals and a seasonal pre-Budget slowdown in buying activity. Following the removal of customs duties on copper scrap early in the month, inbound shipments surged, increasing merchant inventories and prompting sellers to lower offers. By mid-month, isolated tightness emerged for high-grade cable scrap, though overall downstream demand stayed weak, with traders and end-users postponing new orders ahead of the Union Budget. While certain regions faced shortages of copper scrap—especially for prompt delivery—this tightness appears situational rather than structural. Several traders noted a need to liquidate inventory before book closures, but destocking is proceeding cautiously amid ongoing payment delays and uncertain price direction. Toward late March, rising availability and gradual seller destocking outweighed primary-supply disruptions, leaving the near-term outlook tilted toward further softening.

Demand patterns were uneven across end-use sectors. The appliances segment—particularly...