INDIA June 02 2015 2:40 PM
MUMBAI (Scrap Register): India major copper scrap commodities prices declined on Monday in line with copper futures prices at India's Multi Commodity Exchange.
The major copper scrap commodities prices showed a negative trend on Scrap Register Price Index as on Monday. India's major copper scrap commodities like copper mixed scrap, copper pat, copper super d. rod, copper utensil scrap and copper wire scrap traded down on Monday.
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However, the most active June copper contract on Multi Commodity Exchange settled up by 0.60% to Rs. 384.35 per kilogram on Monday from previous close of Rs. 386.65 per kilogram. The MXC copper prices touched an intra-day high of Rs. 387.50 per kilogram and an intra-day low of Rs. 383.85 per kilogram during Monday.
Copper futures prices at India's Multi Commodity Exchange settled down after a pair of reports on China's manufacturing sector failed to ease concerns about a slowdown in the world's second-largest economy.
A pair of manufacturing reports released underlined concerns over the health of China's manufacturing sector. The HSBC final manufacturing index for May came in at 49.2, remaining below the 50-point level that separates growth in activity from contraction for the third straight month.
Meanwhile, the official China's manufacturing purchasing managers' index inched up to 50.2 last month from 50.1 in April, broadly in line with market expectations. China's official non-manufacturing PMI, also released on Monday, fell to a seven-year low of 53.2 in May from 53.4 in April.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
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