The weekly Davis Index for copper armature wire settled flat at Rs394,000/mt del India consumer on Thursday. No trades were reported since markets and downstream production remained shut due to the Indian government extending its nation-wide COVID-19 lockdown till May 3. 

The index for Berry settled at Rs386,000/mt del India consumer on Thursday, flat for the last four weeks because of the lockdown. The weekly index for domestic heavy settled at Rs383,000/mt del India consumer. The index for Copper sheet cutting remained flat at Rs377,500/mt del India consumer. 

 

Manufacturers are shying away from booking imported scrap and are taking a wait-and-watch approach as uncertainty looms over downstream industries resuming production.

The index for copper turnings and copper utensils settled at Rs360,000/mt and Rs360,000/mt del India consumer, respectively, also flat. 

Manufacturers said that they will not book imported scrap until the government lifts its lockdown.

 

($1= Rs76.59)

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