The domestic prices for copper scrap grades like Armature wire and Berry dropped while Heavy, Sheet cutting, Turnings and utensils rose in the domestic market as buyers reduced purchases ahead of the end of fiscal year. Except in the South, trades thinned in our regions as traders stayed away from the market.
The three-month LME copper contract rose by $107.5/mt to settle $9,024.5/mt from $8,917/mt on March 10.
The weekly Davis Index for copper Armature wire settled at Rs608,333/mt del India consumer, down by Rs2,667/mt ($36.77/mt).
The weekly Index for copper Berry dropped by Rs7,667/mt to Rs632,333/mt del India consumer.
The Davis Index for copper Heavy rose by Rs1,500/mt($20.68/mt) and settled at Rs622,000/mt del India consumer from the prior week.
The weekly Davis Index for copper Sheet cutting settled Rs603,000/mt, up by Rs18,000/mt del India consumer.
The weekly Davis Index for copper utensils settled at Rs586,000/mt del India consumer and the weekly Index for copper turnings settled at Rs576,000/mt del India consumer, up by Rs1,000/mt.