Hindustan Copper raised the prices for copper cathodes and copper wire rods on Jan 1, as three-month LME official copper prices rose by $171/mt from Dec 9 to Dec 31. Hindustan Copper issued its first price circular with an upward revision amid signs of a return of domestic demand.
- Hindustan Copper hiked price of copper cathodes by Rs17,145/mt ($240.22/mt) to Rs463,917/mt on Jan 1 from Rs446,772/mt Tuesday, Dec 10. Price of continuous cast copper wire rods rose by Rs9,077/mt to Rs465,724/mt.
In the Jan-Oct period, Indian imports of the copper cathode and refined copper rose by 54.26pc or 46,984mt from the prior year period, when India imported 71,245mt of copper cathodes and refined copper, according to Davis Index analysis. 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.
($1= Rs71.37)