Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The weekly Davis Index for #1 copper wire (Berry) settled at $9,360/mt from $9,487/mt cfr India port, down by $127/mt amid a weakness in the copper prices on LME. Secondary manufacturers in India are watchful of the global copper prices and are purchasing limited volumes. 


In several industrial areas, regional authorities are allowing establishments to function for limited hours while ensuring that COVID-19 protocols are followed for all the employees. 

China has become active in the market and inquiries for yellow brass are rising from the prior week. 


The three-month LME copper dropped by $229/mt to $9,904.5/mt on Wednesday from $10,133.5/mt on June 2. Market participants are on the sidelines due to a lack of clarity on copper’s price direction. 


The weekly Davis Index for #copper wire and tube (Berry Candy) settled at $8,964/mt cfr India port, down by $156/mt. 

The weekly Index for #2copper Birch cliff settled $8,419/mt cfr port India, down by $118/mt. A few participants reported trades of Birch cliff at 85-86pc, and others shared that offers remained at 84-85pc of the three-month copper contract.

Imported Berry is in short supply as its imports were down over the last few weeks. 

Participants from Pakistan reported thin trades and shared that buyers preferred to wait for clearer price directions. 


The weekly Davis Index for yellow brass cfr India port settled at $5,769/mt, down by $172/mt. 

The weekly index for yellow brass settled at $5,794/mt cif Asia port, down by $217/mt. Exporters from the US lowered yellow brass offers to 60.5pc from 61.26-63pc of the three-month LME copper prices the prior week. 


Pakistan and China

The weekly Davis Index for copper ingots settled at $9,409/mt, down by $167/mt cfr China port. Indian and Pakistan manufacturers reported weak demand for copper ingots from China. 


The weekly Davis Index for brass billets cfr China port settled at $5,893/mt from $6,050/mt, down by $157/mt.


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