India’s weekly imported copper scrap prices remained flat on no signs of activity from buyers amid the nationwide COVID-19 lockdown. The Davis Index for Berry settled at $4,992/mt cfr India port, Thursday, unchanged from a week ago. The index for Berry/Candy and Birch/Cliff also remained unchanged at $4,866/mt and $4,463/mt cfr India port. The official three-month LME copper contract marginally trended down by $24/mt from a week ago.
Buying activity for imported Elmo in Pakistan resumed, however, prices remained unchanged at $560/mt cfr Pakistan port. Indian buyers are not keen yet to resume bookings due to the stricter lockdown conditions in the country. Offers have also dried up due to logistical and credit uncertainties.
The official three-month LME copper contract settled at $5,061.5/mt, Wednesday, down by $24/mt from a week ago.