The weekly Davis Index for imported Honey brass was flat at Rs296,000/mt del Delhi consumer for the third week. No trades were reported in the domestic scrap market.
Traders shied away from booking imported scrap as the Indian government is expected to extend the COVID-19 lockdown by another two weeks. On March 25, the government imposed a 21-day nation-wide lockdown. The weekly Davis Index for Honey domestic origin (Purja) settled flat at Rs287,000/mt del Delhi consumer.
Importers of scrap were unable to claim delivery of shipments from the ports across India as many transporters have stopped truck services, especially for non-essential goods. Also, unavailability of casual labourers at ports has hampered the process of unloading cargoes. Traders expect a relief as the government has urged shipping lines to waive-off detention and demurrage charges in the wake of COVID-19 lockdown.
In Jamnagar, the weekly Davis Index for imported Honey brass remained unchanged at Rs290,000/mt for the third week. The weekly Davis Index for Honey domestic origin (Vilayati) settled at Rs275,000/mt del Jamnagar consumer, unchanged for three weeks.
The three-month LME copper contract inched up by $274/mt to $5,085.5/mt on Apr 7 from the prior week.