The weekly Davis Index for #1 copper wire (Berry) fell by $142/mt to settle at $6,251/mt cfr India port driven by a drop in the three-month LME copper contract.
The weekly Davis Index for #1copper wire and tube (Berry Candy) settled at $6,060/mt cfr India port, down by $137/mt from the prior week driven by LME. The three-month LME copper contract dropped by $146.5/mt to $6,379/mt on Wednesday from $6,525.5/mt in the prior week.
The weekly index for #2 copper (Birch Cliff) settled at $5,742/mt, up by $129/mt from $5,871/mt in the prior week.
Exporters in Pakistan sold copper ingots at price levels 95-96pc of LME as against 94pc in the week prior. The index for Asian copper ingots settled at $6,092/mt cfr China, down by $64/mt from the prior week as trade between India and China continue to remain low.
The weekly index for imported copper-bearing motors (Elmo) settled at $690/mt cfr India port, down by $15/mt. The weekly index for yellow brass settled at $3,970/mt cfr India port, down by $18/mt from the prior week.
Pakistan and China
The weekly index for Elmo settled at $688/mt cfr Pakistan port, down by $4/mt from the prior week. Market participants reported good demand for Elmo in the market.
The weekly index for brass billet settled at $4,090/mt cfr China port, up by $40/mt from the prior week amid few trades.