The weekly Davis Index for copper armature wire rose by Rs6,000/mt ($81.69/mt) to settle at Rs450,000/mt del India consumer despite drop in LME three- month copper contract from the prior week. Most of the grades sold at different levels across India driven by region-wise demand. Market participants reported slow trade.
The weekly Index for copper berry dropped by Rs12,542/mt to Rs465,333/mt del India consumer from the prior week driven by slow demand for the scrap grade due to absence of liquidity in the market.
The Davis Index for heavy settled at Rs469,000/mt up by Rs1,600/mt delivered India consumer from the prior week. The weekly Davis Index for copper sheet cutting dropped by Rs3,241/mt del India consumer to settle at Rs457,500/mt from the prior week due to weak demand from downstream market.
The weekly Davis Index for Copper utensils settled at Rs425,500/mt del India consumer, down by Rs1,500/mt from the prior week. The weekly Davis Index for copper turnings settled unchanged at Rs420,000/mt del India consumer from the prior week.