The weekly Davis Index for #1 copper wire (Berry) settled at $6,350/mt cfr India port up by $161/mt, driven by the spike in the three-month LME Copper contract.

 

The weekly Davis Index for #copper wire and tube (Berry Candy) settled at $6,100/mt cfr India port, up by $174/mt from the prior week driven by LME. The three-month LME copper contract rose by $121/m to settle at $6,705/mt on Wednesday. 

 

The weekly Index for #2 copper (Birch Cliff) settled at $5,850/mt, up by $89/mt from the prior week. 

 

Pakistan and China

Pakistan exporters sold copper ingots at prices levels of 95pc of LME as against 95.5pc of LME the prior week. Indian exporters sold copper ingots at 93.5 to 94pc of LME as against 96pc of LME prior week. 

 

The weekly index for Elmo settled at $703/mt cfr Pakistan port, up by $18/mt from the prior week. Market participants reported good demand for Elmo in Pakistan’s domestic market.  The weekly index for Elmo settled at $750/mt cfr India port down by $5/mt from the prior week. Market participants in Pakistan reported revival of demand in the downstream industries. 

 

The weekly index for brass billet settled unchanged at $4,100/mt cfr China port as manufacturers reported weak trades at this level and shared that domestic demand has improved from the prior week. 

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