India Brass, Copper Scrap prices decline; MCX Copper settles slightly up

INDIA December 17 2015 2:25 PM

MUMBAI (Scrap Register): India major brass and copper scrap commodities prices declined on Wednesday, while copper futures prices at India's Multi Commodity Exchange settled slightly higher and recovered from a one-week low hit a day earlier as a dollar rally petered out and metals investors covered short positions ahead of an expected U.S. rate rise.

The major brass and copper scrap commodities traded down on Scrap Register Price Index as on Tuesday. India's major brass scrap commodities like brass accessories, brass huny scrap prices traded down on Wednesday.

For Live Indian Copper Scrap Prices Log on to Scrap Register

India's major copper scrap commodities like ACR Copper Coil 3/8, CC Rod LME ++, Copper armature, Copper cable scrap, Copper cathod LME ++, Copper Mixed Scrap, Copper Pat, Copper Super D.Rod, Copper Wire Scrap and Electrolytic Copper strip 25mm prices traded down on Wednesday.

However, the most active November copper contract on Multi Commodity Exchange settled up by 0.37% to Rs. 310.05 per kilogram on Wednesday from previous close of Rs. 308.90 per kilogram. The MCX copper prices touched an intra-day high of Rs. 312.55 per kilogram and an intra-day low of Rs. 307.85 per kilogram during Wednesday.

The dollar edged back from a near one-week high, offering temporary relief to non-U.S. investors buying dollar-priced metals.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)