Copper scrap is now flowing from West to East.
In Q3 2026, India’s copper scrap price index rose 6.94%, and copper armature Ex-Delhi averaged about USD 13,461/MT. US prices softened over the quarter, averaging about USD 13,260/MT spot. European prices fell.
So Indian buyers paid about USD 200/MT more than the US spot average. With exchange stocks falling and less scrap being generated in Europe, exporters are sending cargoes to the buyers who pay the most, and those buyers are increasingly in Asia.
👉 Buying copper scrap for Indian smelters or cable plants? Book a free ChemAnalyst demo to see weekly prices and the Q4 outlook.
Why copper scrap prices matter
Copper scrap, including armature grade from motors and windings, is a key raw material for:
- Secondary copper smelters and refiners
- Wire and cable makers
- Brass mills
- Renewable energy and electrification projects
India’s copper and cable industry depends heavily on imported scrap. Global trade flows, LME prices and freight costs therefore show up quickly in Indian prices.
Q3 2026 at a glance
🇮🇳 India (Armature, Ex-Delhi): USD 13,461/MT, +6.94% vs Q2
🇺🇸 United States (spot average): about USD 13,260/MT, softer than Q2 (about USD 13,300/MT FOB)
🇪🇺 Europe: price index down vs Q2, with a slight recovery in September
India: what drove Q3
Tighter imports
- Less scrap generation in Europe and falling exchange inventories increased competition for imported material.
- Exporters sent cargoes to higher-paying Asian buyers, and India competed for them.
Higher replacement costs
- Record LME copper prices raised payables, so secondary producers paid more for feedstock.
- Higher import premiums, freight and insurance raised landed costs and delayed shipments.
Demand
- Wire, cable and renewable energy projects kept demand strong.
- Slower activity during the monsoon limited heavy restocking in September.
What held prices back
- Cautious buyers and profit-taking kept prices in a range.
- No major Indian smelter outages, and new capacity announcements point to more supply later, which reduced sellers’ urgency.
India’s copper scrap price rose from about USD 12,780/MT in Q1 2026 to USD 13,461/MT in Q3, an increase of about 5.3%.
United States: weaker demand, firmer September
US copper scrap softened over the quarter, with the spot average at about USD 13,260/MT. Weaker domestic manufacturing and cautious buyers held prices down, while higher energy, labor and freight costs limited the decline. In September, prices firmed as tighter import supply and less European scrap increased competition for US material. The outlook points to slight upside in Q4, supported by smelter restocking and export demand from Asia.
Europe: plenty of scrap, then tighter
European prices fell over the quarter. Industrial demand was weak, and decommissioning projects added scrap. Brass mills and secondary smelters bought cautiously. In September, exporters sent cargoes to higher-paying Asian buyers, which reduced European supply and lifted prices slightly. High energy and logistics costs kept production costs high.
What this means for Indian buyers
1. India is competing with the world for scrap. With Western prices soft and Indian prices rising, India now pays more to attract cargoes. Expect continued competition for imported material.
2. LME sets the price. Record LME copper raises scrap prices directly. Tracking LME and import premiums weekly is essential.
3. Landed cost matters more than FOB. Freight, insurance and supply chain disruptions add significantly to delivered cost, so compare full landed costs from each origin.
4. New capacity may ease supply later. Announced Indian smelter expansions could ease supply over time, but not immediately.
Questions procurement teams should be asking now
- Are we paying more than necessary compared with US and European supply on a landed basis?
- How will LME copper movements affect our Q4 scrap costs?
- Which origins, such as the Gulf, Europe or the US, give us the best value after freight and insurance?
- Should we fix volumes now, or wait for post-monsoon demand to settle?
How ChemAnalyst helps
ChemAnalyst tracks prices, market news and supply and demand for more than 1,000 commodities, including copper scrap, copper wire and brass scrap. Our analysts in Houston, Cologne and New Delhi, supported by ground teams at over 50 major trading ports, provide:
- ✅ Weekly price updates for India, the US and Europe
- ✅ Explanations of why prices moved, not just the numbers
- ✅ Price forecasts to help you time purchases
- ✅ Supply risk tracking to flag disruptions early
See where scrap is moving: book a free demo
In a short, free demo, we will show you weekly copper scrap prices for India, how they compare with the US and Europe, and the Q4 outlook. No commitment is required.
📊 Read the full copper scrap price overview: https://www.chemanalyst.com/Pricing-data/copper-scrap-3064
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