The Davis Index for imported Honey brass settled at Rs279,077/mt del Jamnagar consumer, down by Rs4,923/mt on lower demand from brass billet and ingot manufacturers. Brass manufacturers are operating at 30-40pc of their capacity as COVID-19 has hit downstream operations.
The weekly Davis Index for Honey brass domestic origin remained unchanged at Rs270,000/mt del Jamnagar consumer.
Davis Index heard of import trades for Honey brass UK-origin at $3,300/mt, US-origin at $3,200/mt and Gulf-origin at $3,100/mt. Brass billet exports were heard at $3,600- $3,700/mt cfr China.
Manufacturers were willing to accept lower prices for brass and ingot exports to infuse some working capital in their business. The producers are using inventories in-hand to fulfil export orders. Cash from these exports would be used to clear scrap containers stuck at Mundra port.
The weekly Davis Index for imported Honey brass settled unchanged at Rs282,000/mt del Delhi consumer. Enquiries rose from the prior week but no trades were reported.
The weekly Davis Index for Honey domestic origin (Purja) settled unchanged at Rs272,000/mt del Delhi consumer on lower demand from brass manufacturers. Several plants continued to deal with the unavailability of labour.
($1= Rs75.72)