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

Offers for copper scrap grades like armature wire, Berry, Heavy, asheet cutting, Turnings, and utensils swelled in the Indian domestic market by around $366-611/mt, in sync with the uptrend in three-month LME copper contract. Participants reported thin trades on Thursday on account of the Eid-al-Fitr holiday. Lockdowns have been extended in many states of India, negatively impacting industrial production plans.


The three-month LME copper contract gained by $555.5/mt to settle at $10,546/mt on May 12 from 9,990.5/mt on May 5. In the week ending on May 5, the three-month copper contract gained by $167/mt from $9,823.5/mt on April 28.


The weekly Davis Indexes for copper Armature wire settled at Rs729,000/mt, up by Rs29,000/mt($394/mt) del India and for copper Berry, gained by Rs30,000/mt to Rs755,000/mt del India consumer.


The weekly Index for Heavy gained by Rs27,000/mt and settled at Rs742,000/mt  del India consumer.


The weekly Davis Index for copper Sheet cutting settled Rs720,000/mt from Rs685,000/mt, up by Rs35,000/mt del India consumer.


The weekly Indexes for copper utensils settled at Rs715,000/mt, up by Rs45,000/mt; and for copper turnings, settled at Rs700,000/mt del India consumer, up by Rs40,000/mt.


($1= Rs73.60)

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