India Refined Copper HS7403 Import Data 2025 May Overview

India Refined Copper (HS 7403) 2025 May Import: Key Takeaways

India’s Refined Copper imports under HS Code 7403 in May 2025 reveal a market dominated by Japan, supplying 95% of volume at 34 USD/kg, indicating bulk commodity-grade purchases. Higher-priced imports from Italy, the U.S., and Spain suggest niche demand for specialized copper, while Myanmar and Rwanda serve as cost-effective alternatives. Import duties near 24.5% highlight the need for strategic sourcing to balance cost and supply chain resilience. This analysis, covering May 2025, is based on processed Customs data from the yTrade database.

India Refined Copper (HS 7403) 2025 May Import Background

What is HS Code 7403?

HS Code 7403 covers refined copper and copper alloys, unwrought, including forms like cathodes, wire-bars, and billets. This product is critical for industries such as electrical equipment, construction, and automotive manufacturing due to its high conductivity and durability. Global demand remains stable, driven by infrastructure development and renewable energy projects.

Current Context and Strategic Position

As of May 2025, India imposes a combined customs duty of ~24.5% on HS Code 7403 imports, including a 5% basic duty, 18% IGST, and 10% social welfare surcharge [Cybex]. Major importers like Vedanta Ltd and Hindalco Industries Ltd rely on these materials for domestic production [Volza]. India’s strategic position as a key consumer of refined copper HS Code 7403 imports in 2025 underscores the need for vigilance amid global supply chain shifts and tariff policies.

India Refined Copper (HS 7403) 2025 May Import: Trend Summary

Key Observations

India's Refined Copper HS Code 7403 Import for 2025 May reached a value of $452.93M and a volume of 12.78M kg, marking the highest monthly performance of the year.

Price and Volume Dynamics

The strong May figures reflect typical industrial stock replenishment ahead of monsoon-related supply constraints, with value surging 44% month-over-month from April's $314.57M. This continues a steady quarterly acceleration from Q1's $361.81M total to Q2's $767.5M (Jan-May cumulative), highlighting robust manufacturing and infrastructure demand cycles driving consistent import growth through 2025.

External Context and Outlook

The sustained import momentum occurs despite a 24.5% combined customs duty structure [CusBuzz], indicating strong domestic demand outweighs cost pressures. With major importers like Vedanta and Hindalco actively sourcing (Volza), and no recent policy shifts, India's refined copper import trajectory remains tied to industrial activity levels rather than tariff changes.

India Refined Copper (HS 7403) 2025 May Import: HS Code Breakdown

Product Specialization and Concentration

According to yTrade data, the India Refined Copper HS Code 7403 Import for 2025 May is overwhelmingly dominated by cathodes and sections, specifically under sub-code 74031100, which accounts for 99% of the value and weight. This product has a unit price of 35.38 USD per kilogram, indicating a focus on high-volume, standardized bulk material. The extreme concentration suggests a market driven by large-scale industrial needs rather than diversified offerings.

Value-Chain Structure and Grade Analysis

The remaining imports fall into two clear categories: lower-volume refined copper forms like billets and unspecified unwrought copper, with prices ranging from 20 to 45 USD per kilogram, and higher-value copper alloys such as brass and bronze, priced between 72 and 185 USD per kilogram. This structure reveals a dual market where bulk, fungible commodities like cathodes are traded alongside more specialized, higher-grade alloys, pointing to both index-linked pricing for staples and custom pricing for niche applications.

Strategic Implication and Pricing Power

For importers, the heavy reliance on bulk cathodes limits pricing power due to commodity market fluctuations, while niche alloys offer better margins but smaller volumes. High import duties, as noted by [cybex.in], add cost pressures, making efficiency critical. Strategic focus should balance securing stable cathode supplies with exploring higher-margin alloy opportunities in the India Refined Copper HS Code 7403 Import landscape for 2025 May.

Check Detailed HS 7403 Breakdown

India Refined Copper (HS 7403) 2025 May Import: Market Concentration

Geographic Concentration and Dominant Role

In May 2025, India's import of Refined Copper under HS Code 7403 is heavily concentrated, with Japan dominating as the primary supplier, accounting for 95.48% of the value and 98.36% of the weight. The value ratio being slightly lower than the weight ratio indicates a bulk purchase of lower-grade commodity copper, with an average unit price of about 34 USD per kilogram.

Partner Countries Clusters and Underlying Causes

The import partners form three clusters: first, Japan as the main bulk source; second, Italy, United States, and Spain with higher unit prices (80-133 USD/kg), suggesting higher-grade or specialized copper due to advanced production; and third, Myanmar and Rwanda with lower unit prices, serving as cost-effective supplementary sources. These patterns likely stem from quality differences, trade relationships, and geographic factors.

Forward Strategy and Supply Chain Implications

With import duties around 24.5% including basic duty, IGST, and surcharge [seair.co.in], Indian importers should prioritize cost savings by strengthening ties with bulk suppliers like Japan, while diversifying sources to reduce dependency and manage supply chain risks effectively.

Table: India Refined Copper (HS 7403) Top Partner Countries (Source: yTrade)

Get Complete Partner Countries Profile

India Refined Copper (HS 7403) 2025 May Import: Action Plan for Refined Copper Market Expansion

Strategic Supply Chain Overview

The India Refined Copper Import 2025 May under HS Code 7403 is a bulk commodity market dominated by standardized cathodes. Price is driven by global index fluctuations and import duties near 24.5%. Supply chain risk is high due to extreme reliance on Japan for 95% of volume. This creates vulnerability to geopolitical shifts or logistics disruptions. The market structure favors large industrial buyers, limiting importer pricing power.

Action Plan: Data-Driven Steps for Refined Copper Market Execution

• Diversify sourcing beyond Japan using trade data to identify secondary suppliers like Italy or the US. This reduces supply chain risk and provides access to higher-grade copper when needed.
• Analyze buyer frequency patterns to forecast demand cycles from dominant large-volume importers. This ensures inventory alignment and prevents stock shortages or overstock.
• Target niche alloy imports with higher unit prices, such as brass or bronze. This captures better margins and reduces exposure to bulk commodity price swings.
• Negotiate long-term contracts with key Japanese suppliers based on volume commitment data. This stabilizes costs and secures priority access during market shortages.

Take Action Now —— Explore India Refined Copper Import Data

Frequently Asked Questions

Q1. What is driving the recent changes in India Refined Copper Import 2025 May?

The surge in May 2025 imports (44% MoM growth to $452.93M) reflects industrial stock replenishment ahead of monsoon season, driven by strong manufacturing and infrastructure demand cycles.

Q2. Who are the main partner countries in this India Refined Copper Import 2025 May?

Japan dominates with 95.48% of import value, followed by Italy, the US, and Spain supplying higher-grade copper, and Myanmar/Rwanda as cost-effective supplementary sources.

Q3. Why does the unit price differ across India Refined Copper Import 2025 May partner countries?

Prices range from ~34 USD/kg (Japan’s bulk cathodes, HS 74031100) to 80–133 USD/kg (specialized alloys from Italy/US/Spain), reflecting commodity-grade vs. high-value product segmentation.

Q4. What should importers in India focus on when buying Refined Copper?

Prioritize securing bulk cathode supplies from Japan for cost efficiency while diversifying into niche alloys (e.g., brass/bronze) to mitigate over-reliance on dominant buyers (91.74% market share).

Q5. What does this India Refined Copper import pattern mean for overseas suppliers?

Japan’s dominance as a bulk supplier offers stable demand, while European/US suppliers can leverage premium pricing for specialized alloys, albeit at smaller volumes.

Q6. How is Refined Copper typically used in this trade flow?

Primarily for large-scale industrial applications like electrical infrastructure and manufacturing, given the heavy reliance on standardized cathodes (99% of imports).