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India Brass, Copper Scrap prices advance; Copper Futures climb nearly 4.5%

iconFeb 14, 2017 11:00
Major brass and copper scrap prices of India advanced on Friday, while copper futures prices at India's Multi Commodity Exchange near 5 percent surge.

INDIA February 13 2017 5:05 PM

MUMBAI (Scrap Register): Major brass and copper scrap prices of India advanced on Friday, while copper futures prices at India's Multi Commodity Exchange near 5 percent surge after shipments were disrupted from the world's two biggest copper mines. 
India's major brass and copper scrap commodities like brass accessories, brass huny scrap, brass shell 40mm, acr copper coil 3/8, copper armature, copper cable scrap, copper heavy scrap, copper shell 40mm, copper utensil scrap and electrolytic copper strip 25mm showed an up trend during Friday.
The most active February copper contract on the India's Multi Commodity Exchange settled higher by 4.49 percent to Rs. 408.15 per kilogram on Friday from previous close of Rs. 390.60 per kilogram. Copper futures at MCX touched an intra-day high of Rs. 408.70 per kilogram and an intra-day low of Rs. 390.90 per kilogram during Friday.
Copper prices also seen supported by supply concerns and Chinese trade data that underscored stronger demand prospects for the metal. China reported better-than-expected trade data for January as demand picked up both at home and abroad, an encouraging start to 2017 for the world's largest trading nation.

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