The weekly Davis Index for imported Honey brass was flat at Rs296,000/mt del Delhi consumer, Wednesday, for the fifth consecutive week. No trades were reported in the domestic scrap market. Traders in Jamnagar shied away from booking imported scrap due to uncertainty over lock-down. The Indian government extended its lockdown till May 3.
The weekly Davis Index for Honey domestic origin (Purja) settled flat at Rs287,000/mt del Delhi consumer. Manufactures in Jamnagar stated that local government has put restrictions on resumption of manufacturing activities and 60pc of employees have migrated to their hometowns in Uttar Pradesh, Bihar, and Andhra Pradesh. Additionally, lack of transport facilities to bring the workers back to their workplaces have left manufacturers in total disarray as it is likely to delay the production even further.
In Jamnagar, the weekly Davis Index for imported Honey brass settled unchanged at Rs290,000/mt for the fifth week. The weekly Davis Index for Honey domestic origin (Vilayati) settled at Rs275,000/mt del Jamnagar consumer, unchanged now for five weeks.
The three-month LME copper contract dropped by $120.5/mt to $5,029.5/mt on April 21, from the prior week.