The weekly indexes for most of the domestic brass scrap grades dropped in Jamnagar and Delhi, following a drop in the LME three-month copper contract. The LME three-month copper contract dropped to $7,647.5/mt on Dec 8, from $7,649/mt on Dec 1.
While demand for brass scrap is slow in Jamnagar, it has improved in Delhi.
Davis Index heard Chinese purchase price for brass billets unchanged at $4,750/mt cfr China prior week.
The weekly Davis Index for imported Honey brass, Wednesday, settled at Rs335,000/mt, down by Rs8,000/mt($108.75/mt) from Rs343,000/mt del Delhi consumer. The weekly Davis Index for Honey domestic origin (Purja) del Delhi consumer settled at Rs324,000/mt, down by Rs7,000/mt del Delhi consumer. Trades have started to rise after a decline in prices.
The weekly Davis Index for Honey domestic origin (Vilayati) settled at Rs340,000/mt del Jamnagar consumer, up by Rs3,500/mt del Jamnagar consumer. The weekly Davis Index for imported Honey settled at Rs350,000/mt down by Rs500/mt from Rs350,500/mt del Jamnagar consumer.