The weekly Davis Index for #1 copper wire (Berry) settled at $6,445/mt cfr India port, down by $294/mt driven by the slide in the three-month LME copper contract.

The weekly Davis Index for #copper wire and tube (Berry Candy) settled $6,167/mt cfr India port, down by $450/mt.

The weekly index for #2Copper Birch cliff settled $6,077/mt cfr India port, up by $217/mt. Market participants shared that imported birch cliff was available at $5,796/mt cfr India port, down by $150/mt. Few participants confirmed trades at $5,507/mt cfr India port for Australian origin birch/cliff.

Importers reported that participants in South East Asia are booking scrap order before China enters scrap market after Nov 1. 

 

Pakistan and China

Pakistani and Indian exporters got offers to sell copper ingots to China at 96-95pc and at 95.5pc of LME, respectively.

Market participants from Pakistan informed that exports to China are on track. Some manufacturers informed that they got copper ingot prices revised by 0.5pc. Pakistan exported 7,500mt of copper ingots to China in September.  

The LME three-month copper contract dropped by $233/mt to $6,731.5/mt, from $6,964.5 prior Tuesday. 

The weekly index for Elmo settled at $738/mt cfr Pakistan port, up by $3/mt. Participants reported sustained demand for Elmos in Pakistan. The weekly index for Elmo settled at $700/mt cfr India port, up by $37/mt on sustained demand.

 

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