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

India’s weekly imported copper scrap prices traded flat tracking the official three-month LME copper contract which remained unchanged amid subdued demand.


The Davis Index for #1 copper wire (Berry) Thursday settled at $5,279/mt cfr India port, unchanged from a week ago. The weekly index for #1 wire and tube (Berry/Candy) and #2 copper (Birch/Cliff) also remained unchanged at $5,146/mt cfr India port and $4,717/mt cfr India port.


The demand for imported electric motors and radiators is less as the market is flooded with previously bought material or shipments that are still stuck at the ports. The weekly index for imported Elmo settled at $630/mt cfr India port up by $5/mt on a boost from imported ferrous scrap prices offers which rose by $10/mt from a week ago.


The copper ingot index remained unchanged at $5,181/mt cfr China port, however, the brass billet index rose by $75/mt to settle at $3,731/mt cfr China port on a $57/mt increase in yellow brass prices, along with strong demand from Chinese buyers. This provided some relief to Indian brass billet manufacturers as they had inventories stocked up with previously bought, higher-priced brass scrap, around $3,700-$3,800/mt in January. Exporters are still facing certain difficulties such as lower availability of ships.


The official three-month LME copper contract settled at $5,342.5/mt, Wednesday, a dollar lower than a week ago.

Leave a Reply

Your email address will not be published.