The weekly Davis Index for copper armature wire settled flat at Rs394,000/mt del India consumer on Thursday.
No trades were reported despite few industries resuming partial plant operations in green zones in areas like Diu- Daman and Madhya Pradesh. Manufacturers are relying on existing inventories and are waiting till May 3 for a decision on lockdown extension before booking imported scrap.
A few copper cathode manufacturers in Gujarat has obtained permission to deliver material to downstream industries. But an absence of demand and unavailability of labour has kept several downstream industries away from production resumption.
The index for Berry settled at Rs386,000/mt del India consumer on Thursday, flat for six successive weeks.
The weekly index for domestic heavy settled unchanged at Rs383,000/mt del India consumer.
The index for Copper sheet cutting remained flat at Rs377,500/mt del India consumer.
The index for copper turnings and copper utensils settled at Rs360,000/mt and Rs360,000/mt del India consumer, respectively, also flat.