The weekly Davis Index for Copper armature wire settled at Rs450,000/mt del India consumer, down by Rs6,333/mt($86.45/mt) from Rs456,333/mt. The three-month copper contract dropped to $6,538/mt, down by $74/mt from $6,612/mt a week ago, pulling scrap prices down. Market participants awaited more clarity and refrained from purchasing imported scrap as the three-month copper contract on LME seems to be on a downtrend for two weeks.

 

The weekly index for copper Berry was at Rs472,333/mt, down by Rs9,667/mt from Rs482,000/mt del India consumer and the index for heavy settled at Rs461,333/mt delivered India consumer, down by Rs13,667/mt. 

 

The weekly Davis Index for copper sheet cutting settled at Rs452,000/mt, down by Rs13,000/mt from Rs465,000/mt del India consumer. Demand for copper armature wire and berry was comparatively higher than for copper sheet cutting.

 

The weekly Davis Index for copper utensils settled at Rs425,000/mt del India consumer, down by Rs5,000/mt, and the index for copper turnings settled at Rs420,000/mt del India consumer, down by Rs5,000/mt.

($1= Rs73.24)

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