India major Copper Scrap prices up; MCX Copper settles higher at Rs. 344.35/kg

INDIA July 20 2016 6:24 PM     

MUMBAI (Scrap Register): Major  Indian brass and copper scrap prices rose on Tuesday, while copper prices at  India's Multi Commodity Exchange edged higher despite the dollar held steady and  markets awaited fresh signals for direction.

The major brass and copper scrap commodities  prices advanced on the Scrap Register Price Index as on Tuesday. The major brass  and copper scrap commodities commodities like brass huny scrap, brass sheet  scrap, acr copper coil 3/8, cc rod lme ++, copper armature, copper cable scrap,  copper cathod lme ++, copper shell 40mm, electrolytic copper strip 25mm traded  up during the day.

The most active August copper contract on the India's  Multi Commodity Exchange settled higher by 1.06% to Rs. 338 per kilogram on  Tuesday from previous close of Rs. 334.45 per kilogram. Copper futures at MCX  touched and intra-day high of Rs. 338.40 per kilogram and an intra-day low of  Rs. 332.15 per kilogram during Tuesday.

Now Investors were largely  hesitant to make any major moves ahead of the European Central Bank's monetary  policy meeting on Thursday. The ECB's Governing Council is widely expected to  stand pat in its first interest rate decision since last month's historic Brexit  decision.