Indian brass billet exports to China remained active in the first week of November, with Chinese buyers raising their indicative buying levels to 63.5–64% of the LME three-month copper price, compared with 63–63.5% a week earlier.
A Jamnagar-based supplier reportedly sold 8,000 tonnes of brass billets to China, reflecting improved export demand and increased buying interest from Chinese customers. However, Indian exporters continued to face tight margins amid elevated domestic brass scrap prices.
With LME three-month copper at $14,001/mt on November 3, Chinese buyers’ indicative levels translated into approximately $8,891–8,961/mt, averaging around $8,926/mt.
LME copper prices declined during the October 27–November 3 period. The three-month contract fell from $14,435/mt to $14,001/mt, a decline of $434/mt, or 3.01%. The LME Copper Cash Settlement Price (CSP) also decreased by $514.50/mt, or 3.52%, from $14,625/mt to $14,110.50/mt.
Market participants in China reported a slight improvement in domestic demand, while imports from India gained momentum, supported by more competitive pricing. Export enquiries from Jamnagar also improved, with the reported 8,000-tonne transaction highlighting continued demand from Chinese buyers.
Despite the improvement in buying interest, exporters said profitability remained under pressure due to high raw material costs and limited processing margins. One market participant noted that margins on brass billet exports were very low, making higher-volume transactions viable only when payments were received quickly against dispatch or the bill of lading (BL).
Meanwhile, domestic brass scrap prices strengthened across most grades between October 28 and November 3, adding to manufacturers’ cost pressures. Delhi Purja scrap increased to ₹832,000/mt ($8,742/mt), while Delhi Honey scrap rose to ₹877,000/mt ($9,215/mt).
In Jamnagar, Vilayati scrap was assessed at ₹860,000/mt ($9,036/mt), while Honey scrap stood at ₹890,000–895,000/mt ($9,352–9,404/mt).
The combination of stronger Chinese buying indications, improved export enquiries and higher transaction volumes is supporting Indian brass billet exports. However, rising scrap prices and thin conversion margins continue to limit exporters’ profitability, making cost management and faster payment cycles critical to sustaining trade flows.