In this paper, the wideband characterization of the propagation channel in circular metallic indoor environments is addressed, regarding Body Area Networks and 5G small cells, an analytical model for the dependence of the mean delay and the average delay spread on the circle radius, the working frequency and the distance between the transmitter and the receiver being proposed. The derivation of the model is initially done analytically, based on optical physics, after which simulation results allow to obtain the values of the coefficients. The simulator was previously assessed with measurements at 2.45 GHz in a passenger ferry room with a circular shape. For a random positioning of the transmitter and the receiver, and a given distance between them, it is observed that the mean delay and the delay spread increase linearly with the radius; furthermore, the mean delay increases quadratically with the distance, while the delay spread has a concave parabolic behavior, with the maximum being at a distance equal to the radius. In a practical case, regarding the positioning of an Access Point inside the room, it is recommended that it is done at the circle center, in order to reduce delay spread.