The domestic prices for the Copper scrap grade for armature wire, berry, heavy, sheet cutting, turnings, and utensils swelled in the domestic market. Participants reported slowing down of scrap demand as domestic buyers had shirked away from booking new orders due to the ongoing lockdown situations in several states.
The three-month LME Copper contract gained by $452/mt $9,823.5/mt on April 28 from $9,371.5/mt on April 21.
The weekly Davis Index for Copper armature wire settled at Rs690,000/mt from Rs656,000/mt up by Rs34,000/mt($458.86/mt) del India consumer prior week.
The weekly Index for Copper berry gained by Rs39,667/mt to Rs715,000/mt from Rs675,333/mt del India consumer prior week.
The Davis Index for Copper heavy gained by Rs37,333/mt($530.80/mt) and settled at Rs705,000/mt from Rs667,667/mt del India consumer the prior week.
The weekly Davis Index for Copper Sheet cutting settled Rs675,000/mt from Rs649,000/mt up by Rs26,000/mt del India consumer.
The weekly Davis Index for Copper utensils settled at Rs660,000/mt from Rs630,333/mt up by Rs29,667/mt and the weekly Davis Index for copper turnings settled at Rs650,000/mt from Rs616,111/mt del India consumer, up by Rs33,889/mt from the prior week.
$1=Rs74.10