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

The weekly Davis Index for #1 copper wire (Berry) settled at $6,490/mt, up by $45/mt from $6,445/mt cfr India port driven by the rise in the three-month LME copper contract.

The weekly Davis Indexes for #copper wire and tube (Berry Candy) settled at $6,219/mt cfr India port, up by $52/mt, and for #2Copper Birch cliff settled $5,881/mt cfr India port, down by $196/mt.

Market participants shared that the spreads of birch cliff importers widened to 87pc of LME and anticipate change in the copper prices on LME after US election results. The participants are taking a wait-and-watch approach before booking scrap from the US scrap yards. 


Pakistan and China

Pakistan and Indian exporters did not confirm new offers to sell copper ingots to China. Manufacturers from both the countries heard the trades at 96-95.5pc of LME, unchanged from the prior week. 

LME three-month copper contract rose by $46.5/mt to $6,760/mt from $6,731.5/mt on prior Tuesday. 


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