The weekly indexes for honey domestic origin (Purja) del Delhi consumer, del Jamnagar consumer and for imported Honey brass del Delhi and Jamnagar consumer dropped in line with the three-month LME copper contract.
The LME three-month copper contract dropped to $6,558/mt, down by $226/mt from $6,784/mt prior Tuesday.
The market participants in Delhi reported sluggish demand for brass scrap whereas those in Jamnagar reported slow but steady demand from the automobile and power sector.
The weekly Davis Index for imported Honey brass Wednesday dropped by Rs1,000/mt ($13.55/mt) to settle at Rs312,000/mt del Delhi consumer from Rs313,000/mt. The weekly Davis Index for Honey domestic origin (Purja) del Delhi consumer settled at Rs302,000/mt, down by Rs2,000/mt del Delhi consumer.
The weekly Davis Index for Honey domestic origin (Vilayati)del Jamnagar consumer settled at Rs303,000/mt, down by Rs2,500/mt. The weekly Davis Index for imported Honey at Rs321,000/mt, down by Rs1,000/mt del Jamnagar consumer.
Davis Index heard Chinese offers for brass billets at $4,050- 4100/mt cfr China port down by $50-100/mt from the prior week. Offers for imported honey were heard at $3,738- 4,000/mt cfr for Middle East, UK and the US origin scrap, down from $3,799 -4,138/mt cfr India port. Market participants shared that imported honey scrap of Europe-origin was available $3,607 -3672/mt cfr India port and participants are preferring it due to price difference.