The weekly Davis Index for copper armature wire rose to Rs452,667/mt del India consumer, up by Rs2,667/mt ($36.31/mt). Market participants in central India reported rise in copper scrap prices in sync with LME. The three-month LME copper contract rose by $177.5/mt to $6,715.5/mt from $6,538/mt on prior Wednesday.
Market participants in North and South India reported a drop in demand as prices scaled-up due to weak demand in the domestic market.
The weekly Davis Index for copper Berry dropped by Rs2,333/mt to Rs470,000/mt from Rs472,333/mt del India consumer.
The weekly Davis Indexes for Heavy settled at Rs463,000/mt, up by Rs1,667/mt from Rs461,333/mt, delivered India consumer and for copper sheet cutting settled at Rs456,667/mt del India consumer, up by Rs4,667/mt.
The weekly Davis Indexes for copper utensils settled at Rs430,000/mt, up by Rs5,000/mt from Rs425,000/mt del India consumer from the prior week and for copper turnings settled at Rs425,000/mt del India consumer, up by Rs5,000/mt.