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

The weekly indexes for the domestic brass scrap grades rose in Jamnagar and Delhi in sync with the recent rise in the LME three-month copper contract.


The LME three-month copper contract rose by $243/mt to $7,314/mt on Nov 24 from $7,071/mt prior Tuesday. 


Market participants in Jamnagar and Delhi reported slow demand from the domestic sector. Davis Index heard Chinese offers at $4,425/mt cfr China, up from $4,325/mt cfr China prior week. For brass billets, few manufacturers struck deals to sell $4,370/mt cfr China fearing that the prices may come down in future. The manufactures had earlier expressed unwillingness to strike a deal at 4,250/mt, the price offered by Chinese buyers in the earlier weeks. 


The weekly Davis Index for Honey domestic origin (Vilayati) settled at Rs319,500/mt del Jamnagar consumer, up by Rs4,500/mt ($60.87/mt). The weekly Davis Index for imported Honey settled at Rs334,333/mt, up by Rs5,166/mt from Rs329,167/mt del Jamnagar consumer.


The weekly Index for imported Honey brass Wednesday settled at Rs323,000/mt del Delhi consumer, up by Rs10,000/mt ($/mt). The weekly Index for Honey domestic origin (Purja) del Delhi consumer settled at Rs310,000/mt, up by Rs7,000/mt. Traders in Delhi reported fewer trades on Wednesday due to slow demand




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