The prices of all copper scrap grade, except copper Armature wire, rose in the domestic market by Rs1,000-5,000/mt ($13.57- 67.86/mt), with participants reporting thin trades amid decision to delay buying due to recent gain in the three-month copper contact on LME. The three-month LME copper contract rose by $100.5/mt to settle at $7,723.5/mt on Dec 9 from $7,623/mt in the prior week.
The weekly Davis Index for copper Armature wire settled at Rs520,500/mt del India consumer, down by Rs750/mt($10.18/mt). Davis Index heard trades of copper Armature wire at Rs530,000/mt del India consumer around Mumbai, however, not all participants confirmed trades at these levels.
The weekly Index for copper Berry rose by 3,000/mt to Rs550,500/mt del India consumer. Manufacturers importing copper Berry scrap preferred to rely on domestic scrap whose prices came under pressure yet again this week.
The weekly Davis Index for Heavy rose by Rs1,000/mt and settled at Rs539,000/mt delivered India consumer. The weekly Davis Index for copper Sheet cutting rose by Rs2,667/mt to settle at Rs522,667/mt del India consumer.
The weekly Davis Index for copper utensils settled at Rs500,000/mt del India consumer, up by Rs5,000/mt. The weekly Index for copper Turnings settled at Rs495,000/mt del India consumer, up by Rs5,000/mt.