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India major Brass, Copper Scrap prices fall; Copper Futures settle down

iconJan 20, 2017 18:15
India's major brass and copper scrap prices fell on Thursday, while copper futures prices at India's Multi Commodity Exchange dropped amid concerns over US-China trade friction and the UK’s plans to l

INDIA January 20 2017 1:41 PM

MUMBAI (Scrap Register): India's major brass and copper scrap prices fell on Thursday, while copper futures prices at India's Multi Commodity Exchange dropped amid concerns over US-China trade friction and the UK’s plans to leave the European Union.

India's major brass and copper scrap commodities like brass huny scrap, acr copper coil 3/8, cc rod lme ++, copper armature, copper cathod lme ++, copper mixed scrap, copper pat, copper shell 40mm, copper super d.rod, copper wire scrap and electrolytic copper strip 25mm showed an up trend on Thursday.

The most active February copper contract on the India's Multi Commodity Exchange dropped by 0.28% to Rs. 392.85 per kilogram on Thursday from previous close of Rs. 393.95 per kilogram. Copper futures at MCX touched an intra-day high of Rs. 396.90 per kilogram and an intra-day low of Rs. 389.20 per kilogram during Thursday.

UK Prime Minister Theresa May offered her most explicit vision of Britain’s future relationship with its EU neighbors, pledging to quit the single market.

Still, investors are bullish after a week of mostly positive Chinese data and possible supply disruptions at Chile’s Escondida mine. Chinese imports of unwrought copper and copper products rose 29% month-on-month to 490,000 tonnes in December, the highest level since March 2016.

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copper scrap prices

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