The weekly Davis Index for imported Honey brass was flat at Rs296,000/mt del Delhi consumer, Wednesday, for the fourth consecutive week. No trades were reported in the domestic scrap market. On Tuesday, the Indian government extended the lockdown from April 14 to May 3. Traders shied away from booking imported scrap amid uncertainty shrouding the extension in terms of operations, labour and logistics.
The weekly Davis Index for Honey domestic origin (Purja) settled flat at Rs287,000/mt del Delhi consumer.
No scrap movement was reported despite the Indian government announcing that automobile and electronic industries will be allowed to function with 20pc-25pc manpower. Industries are currently struggling with labour as it is estimated that 70pc of the outstation workforce travelled back to their hometowns since the lockdown was announced on March 24.
In Jamnagar, the weekly Davis Index for imported Honey brass settled unchanged at Rs290,000/mt for the fourth week. The weekly Davis Index for Honey domestic origin (Vilayati) settled at Rs275,000/mt del Jamnagar consumer, unchanged now for four weeks.
The three-month LME copper contract inched up by $64.5 to $5,150/mt on April 14, from the prior week.