India major Brass, Copper scrap prices decline; Copper Futures settle down at Rs. 319.75

INDIA August 08 2016 4:05 PM     

MUMBAI (Scrap Register): Major  Indian brass and copper scrap prices down on Friday in line with copper prices  at India's Multi Commodity Exchange amid mounting concern that economic stimulus  planned around the world won’t be enough to push up demand.

The major  brass and copper scrap commodities traded down on the Scrap Register Price Index  as on Friday. The major brass and copper scrap commodities like brass  accessories, brass sheet cuttings, brass sheet scrap, brass shell 40mm, ACR  copper coil 3/8, cc rod lme ++, copper armature, copper cable scrap, copper  cathod lme ++, copper heavy scrap, copper mixed scrap, copper pat, copper shell  40mm, copper super d.rod, copper wire scrap, electrolytic copper strip 25mm  traded down on Friday.

However, the most active August copper  contract on the India's Multi Commodity Exchange settled slightly down by 0.78%  to Rs. 319.75 per kilogram on Friday from previous close of Rs. 322.25 per  kilogram. Copper futures at MCX touched and intra-day high of Rs. 323.20 per  kilogram and an intra-day low of Rs. 318.90 per kilogram during  Friday.

In the US, the largest copper consumer after China, factory  orders slid 1.5 percent in June, with durable goods orders slipping by the most  since December.