INDIA November 02 2016 3:13 PM
MUMBAI (Scrap Register): India major brass and copper scrap prices stayed stable on Tuesday, while copper prices at India's Multi Commodity Exchange extended their recent advance following the release of improving Chinese manufacturing figures.
The major copper scrap commodities like ACR Copper Coil 3/8, CC Rod LME ++,Copper armature, Copper cable scrap, Copper cathod LME ++, Copper heavy 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, Copper Wire Scrap and Electrolytic Copper strip 25mm remained flat during Tuesday.
The major brass 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 remained steady during Tuesday.
The most active November copper contract on the India's Multi Commodity Exchange settled higher by 1.02% to Rs. 329.35 per kilogram on Tuesday from previous close of Rs. 326.05 per kilogram. Copper futures at MCX touched and intra-day high of Rs. 329.90 per kilogram and an intra-day low of Rs. 325.30 per kilogram during Tuesday.
The Caixin China manufacturing purchasing managers’ index (PMI) rose to 51.2 in October from a reading of 50.1 the previous month. Consensus estimates called for a slight increase to 50.2. A reading above 50 is associated with expansion.