India Brass, Copper Scrap prices advance in line with Copper Futures

MUMBAI (Scrap Register): Major brass and copper scrap prices in India advanced on Friday, while copper futures prices at India's Multi Commodity Exchange settled up boosted by imports news from China.
India's major brass and copper scrap commodities like acr copper coil 3/8, cc rod lme ++, copper armature, copper cable scrap, copper cathod lme ++, copper shell 40mm, electrolytic copper strip 25mm, brass sheet cuttings and brass shell 40mm advanced on Friday. 
The most active February copper contract on the India's Multi Commodity Exchange settled up by 0.83% to Rs. 405.25 per kilogram on Friday from previous close of Rs. 395.15 per kilogram. Copper futures at MCX touched an intra-day high of Rs. 405.65 per kilogram and an intra-day low of Rs. 398.25 per kilogram during Friday. 
According to preliminary Chinese customs data showed, China shipped in a record 4.95 million tons of copper in 2016, up 2.9 percent from a year earlier, while December imports shot up almost 30 percent from the previous month, according to customs data released. 
China’s imports of unwrought copper and copper-fabricated products totaled 4.95 million tons in 2016, up 2.9% on the previous year. LME stocks were down 954 tonnes to 370,866 tonnes and canceled warrants fell 1,200 tons to 132,864 tons.