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

  • Hindustan Copper reduced the prices for copper cathodes and copper wire rods second time this month despite $135/mt uptick in three-month official LME copper prices in the period. Hindustan Copper in its second price circular for December revised prices amid weak domestic market.
  • Hindustan Copper cut price of copper cathodes by Rs4,265/mt ($59.63/mt) to Rs446,772/mt Tuesday, Dec 10 from the prior price of Rs451,037/mt on Dec 2. Continuous cast copper wire rods price was down by Rs4,322/mt to Rs452,325/mt from Rs456,647/mt.


Hindustan Copper cut prices despite a $135/mt increase in three-month official LME copper prices from Dec 2 to Dec 10. 


As previously reported by Davis Index, India’s imports of copper cathodes increased by 69.18pc to 88,602mt in Jan-Sept period from the prior year period. India has become a net importer of refined copper after Vedanta’s copper smelter in Tuticorin, Tamil Nadu was shut down in May. India was a net exporter of copper for 18 years.

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