Prices of copper scrap grades including armature wire, Berry, Heavy, sheet cutting, Turnings and utensils rose by $736.10/mt -906.32/mt in the domestic market, in sync with the jump in the three-month LME copper contract. Except in the North, slow trades were reported in most parts of India as downstream industries halted purchases in the wake of rising copper prices.
The three-month LME copper contract rose by $859.5/mt to settle at $9,260.5/mt on Feb 24 from $8,401/mt on Feb 17.
The weekly Davis Index for copper Armature wire settled at Rs620,333/mt del India consumer, up by Rs65,666/mt($906.32/mt).
The weekly Index for copper Berry rose by Rs60,667/mt to Rs645,000/mt del India consumer while the weekly index for copper Heavy rose by Rs53,333/mt to settle at Rs627,333/mt del India consumer.
The weekly Davis Index for copper sheet cutting settled at Rs605,333/mt del India consumer, an increase of Rs58,666/mt.
The weekly Davis Indexes for copper utensils and copper turnings increased by Rs65,000/mt each to settled at Rs595,000/mt and Rs585,000/mt del India consumer, respectively.
($1= Rs72.45/mt)