Commodities
Indian Copper Cathode Prices Ease Amid High Global Copper Prices
Copper cathode prices in western India eased last week due to high global copper prices suppressing downstream demand. The ex-Mumbai price fell to around INR 1,368,000/t on August 13 from nearly INR 1,395,000/t the previous week.
Similarly, Ahmedabad prices declined to approximately INR 1,370,000/t from about INR 1,397,000/t over the same period. Elevated raw-material costs prompted consumers to limit procurement and defer purchases, weighing on fresh orders and downstream operating rates.
The weakness in domestic demand came despite firm global copper fundamentals. LME inventories declined by around 32% month-over-month and 7% week-over-week to 207,725 tonnes, reinforcing concerns over tightening physical availability.