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

The weekly indexes for most domestic brass scrap grades in Delhi and Jamnagar rose in India in sync with the three-month LME copper contract. Imports are slow due to rise in prices of brass imports on strong LME.


The LME three-month copper contract rose to $7,991.5/mt on Jan 12, up by $69/mt from $7,922.5/mt on Jan 5. Slow demand was reported in Jamnagar and Delhi reported slow demand.


Chinese bids for brass billets stood at $5,010/mt, marginally up from $5,000/mt cfr China prior week. Jamnagar manufacturers continued exporting approximately 2,000/mt of brass ingots to China per month. 


The weekly Davis Index for imported Honey brass Wednesday settled at Rs349,000/mt, up by Rs3,000/mt ($40.97/mt) from Rs346,000/mt del Delhi consumer while the index for Jamnagar settled at Rs360,750/mt del consumer, up by Rs5,750/mt.


The weekly Davis Indexes for Honey domestic origin (Purja) settled at Rs336,000/mt del Delhi consumer, up by Rs1,000/mt, and for Honey domestic origin (Vilayati) at Rs346,000/mt del Jamnagar consumer, up by Rs5,000/mt.


Delhi saw a drop in trades on weak domestic demand as secondary manufacturers are restricting new purchases on the back of the rising copper prices on LME. 


($1= Rs73.20)


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