Indian Brass Billet Prices Rise $52/mt, Scrap Prices Drop Amid Weak Demand

Indian brass billet prices on a CFR China port basis averaged $9,141/mt on October 14, up $52/mt, or 0.57%, from $9,089/mt on September 30. The latest assessment ranged from $9,068–9,214/mt, compared with $9,017–9,161/mt previously.

Over the same period, LME copper three-month prices rose 1.23% to $14,625.50/mt on October 13 from $14,448/mt on September 29

Chinese buyers lowered their indicative offers from 62.5–63.5% to 62–63% of LME copper three-month prices, tightening margins for Indian exporters.

Market participants said the revised offers were difficult to accept on a standalone basis, prompting producers and traders to use hedging and matched purchase-and-sale deals to manage price exposure and protect margins.

Domestic brass scrap prices fell sharply over the week amid ample availability and limited buying. Market participants reported weak sales and uncertainty over the reasons for the decline. Intraday prices were also reported to have fallen by ₹3,000/mt ($31.56/mt) compared with a week earlier.

In Delhi, Purja scrap fell to ₹846,000/mt ($8,895/mt) from ₹890,000/mt ($9,358/mt), while Honey scrap declined to ₹884,000/mt ($9,305/mt) from ₹938,000/mt ($9,874/mt).

In Jamnagar, Vilayati scrap dropped to ₹860,000–865,000/mt ($9,053–9,105/mt) from ₹895,000–900,000/mt ($9,421–9,474/mt), while Honey scrap eased to ₹920,000–925,000/mt ($9,684–9,737/mt) from ₹940,000–945,000/mt ($9,895–9,947/mt). USD equivalents use an indicative exchange rate of ₹95.05/USD.

Despite higher LME copper prices, lower Chinese offer ratios and weak scrap demand continued to constrain brass billet exports. Producers remained cautious about standalone sales as the gap between Chinese bids and Indian sellers’ expectations squeezed margins.