India Brass, Copper Scrap prices remain steady; Copper Futures settle higher

MUMBAI (Scrap Register): India's major brass and copper scrap prices have showed a steady trend on the Scrap Register Price Index as on Monday, while copper futures prices at India's Multi Commodity Exchange settled higher as soaring steel and iron ore prices in China brightened the outlook for growth and industrial demand.
India's major brass and copper scrap commodities like brass accessories, brass bharat accessories, brass chadripital desi, brass huny scrap, brass pales scrap, brass pallu scrap, brass radiator desi , brass radiator imported, brass sheet cuttings, brass sheet scrap, brass shell 40mm, brass utensil scrap, acr copper coil 3/8, copper armature, copper cable scrap, copper heavy scrap, copper mixed scrap, copper pat, copper sheet cutting, copper shell 40mm, copper super d.rod, copper utensil scrap, copper wire bars and copper wire scrap remained flat during Monday.
The most active August copper contract on India's Multi Commodity Exchange settled higher by 0.95 percent to Rs. 410.55 per kilogram on Monday from previous close of Rs. 406.70 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 412.40 per kilogram and an intra-day low of Rs. 405.05 per kilogram during Monday.
The price of copper gained on Monday mainly due to upbeat manufacturing data in top consumer China, while nickel hit a near four-month high on renewed supply worries and soaring steel prices. 
Growth in China’s manufacturing sector cooled slightly in July, as foreign demand for Chinese goods slackened, but a government-led drive to develop infrastructure boosted growth in the construction sector. China is considering banning imports of scrap metal starting at the end of next year.