India's copper scrap market softened in mid-March as buying cooled and logistics frictions weighed on flows. After a firm late February pull driven by downstream demand across cables, inverters and consumer durables, traders entered a pre-budget lull that trimmed prompt bids. Middle East tensions and vessel rerouting tightened supply lines, prompting buyers to reassess immediate requirements. The pullback reflected a balance between robust clean-grade demand and freight pressures. Copper scrap demand remained bifurcated: wire-rod and cable manufacturers stayed the strongest cohort, supported by clean scrap's roughly 22% cash-conversion advantage over cathode, while construction demand remained soft. Power utilities supported activity after tender awards for power cables rose on the month; air-conditioner output posted a year-on-year uptick. Copper Scrap supply tightened for high-grade insulated wire scrap, with premiums for clean armature rising, while regional cathode availability fell and sulphur inputs constrained costs. Logistics headwinds persisted with added surcharges; yard stocks contracted to modest coverage.
