India: Brass honey scrap prices in Jamnagar inch down amid need-based buying

• Gas supply disruptions impact brass manufacturing operations
  
  
• Firm global copper prices fail to support brass scrap prices
  
  

Brass honey scrap prices in Jamnagar fell marginally w-o-w on 24 April 2026, amid muted buying activity and cautious market sentiment. Demand remained largely need-based, while balanced supply conditions and limited spot liquidity kept price movements narrow.

Brass honey scrap prices were assessed at INR 760,000/t, down from INR 765,000/t in the previous week, reflecting subdued spot activity and cautious procurement patterns. Trades were largely concluded for immediate requirements, while bulk buying interest remained limited.

Supply conditions remained broadly stable, with adequate material availability meeting subdued demand levels. However, operational challenges in key processing hubs and uncertainty in import flows continued to keep market participants watchful.

Market scenario

Brass honey scrap prices in Jamnagar remained range-bound, while cautious market sentiment persisted amid muted buying interest and thin spot liquidity. Soft industrial activity continued to weigh on consumption.

A key factor influencing the market remained conditions in Jamnagar, Gujarat, India's largest brass processing hub, which houses over 4,000 brass manufacturing units and accounts for nearly 60-65% of the country's brass output. Market participants noted that continuous gas supply is critical for melting, extrusion, and finishing operations. However, recent gas supply disruptions linked to geopolitical tensions and domestic LPG constraints have impacted operations at several units, resulting in lower production rates and weaker brass scrap consumption.

With many units either partially shut or operating at reduced capacity, procurement largely remained need-based, and buyers covered only immediate requirements while avoiding forward bookings amid uncertain production visibility. As a result, even when local scrap availability tightened temporarily, upside in prices remained capped.

Demand from downstream sectors such as plumbing fittings, electrical components, sanitaryware, and industrial hardware remained moderate to weak, limiting offtake from brass processors. This subdued end-user demand further restricted any meaningful upward movement in scrap prices despite intermittent support from global metal trends.

On the supply side, imported brass honey scrap availability remained uneven due to logistics delays and fluctuating import flows. However, overall material availability was sufficient to meet subdued demand levels, preventing any sharp shortage-led increase in prices.

Market participants added that recent firmness in global copper prices had limited pass-through into brass scrap values. Unlike previous cycles, where higher copper prices directly supported scrap values, the current market remained driven more by operational bottlenecks and weak consumption than by raw material cost support.

Looking ahead, recovery in brass honey scrap demand is likely to depend on normalisation of gas supply in Gujarat and improved industrial activity in Jamnagar. Until then, the market is expected to remain in a consolidation phase with a narrow trading range and subdued volatility.

Outlook

BigMint expects Jamnagar brass honey scrap prices to remain largely stable in the next few days. Muted industrial activity and reduced operating rates in Jamnagar are likely to keep buying interest need-based, while balanced material availability may limit sharp price movements.

The normalisation of gas supply in Gujarat and improvement in production activity will remain key watch points. A recovery in downstream demand could support prices, while continued operational disruptions and subdued consumption may keep the market under mild pressure.