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

The domestic prices for copper scrap grades including Armature wire, Berry and Heavy increased while Turnings and utensils settled flat despite the jump in the three-month copper contract. Participants reported usual activity in North India and low-to-no activity in other parts as downstream industries have halted purchases due to rising copper scrap prices on LME. 

The three-month LME Copper contract rose by $453/mt to settle at $8,274/mt on Wednesday from $7,821/mt on February 3.

The weekly Davis Index for copper Armature wire settled at Rs544,667/mt del India consumer, up by Rs13,000/mt ($178.47/mt). 

The weekly index for copper Berry rose by Rs13,833/mt to Rs573,833/mt del India consumer while the index for copper Heavy rose by Rs10,166/mt to Rs553,333/mt delivered India consumer.

The weekly Davis Index for copper sheet cutting settled at Rs525,750/mt del India consumer, from Rs514,000/mt last week, up by Rs11,750/mt. 

The weekly indexes for copper utensils and copper turnings settled flat at Rs503,000/mt and Rs493,000/mt del India consumer, respectively.

$1= Rs72.84)


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