India’s weekly domestic copper scrap prices rose by Rs2,666 -19,250/mt ($31.19 -268.59/mt) Thursday on strong demand for semi-finished copper products in Delhi market. Demand from secondary copper manufacturers for scrap was strong despite an increase in prices.
The Davis Index for Berry settled at Rs434,333/mt ($6,060.24/mt) del India consumer up by Rs2,666/mt ($31.19/mt) from a week ago.
In Mumbai, Busbar manufactures faced cash crunch amid sluggish demand from the power and real estate sectors.
The weekly Davis Index for copper armature wire settled at Rs420,100/mt del India consumer up by Rs4,850/mt on strong demand from Delhi manufacturers.
The Davis Index for copper sheet cutting settled at Rs415,500/mt del India consumer up by Rs11,833/mt from a week ago on continued demand from switchgear manufacturers
The Davis Index for copper heavy settled at Rs436,000 del India consumer up by Rs19,250/mt as its supply tightened in the market.
The official three-month LME copper contract settled at $5,770/mt Wednesday, up from $5,764/mt a week ago.
($1= Rs71.66)