India Brass, Copper Scrap prices remain flat; Copper Futures fall 1.46 percent

MUMBAI (Scrap Register): India's major brass and copper scrap prices showed a flat trend on Thursday, while copper futures prices at India's Multi Commodity Exchange fell as trader booked there long position tracking stronger dollar overwhelmed ongoing supply disruptions and evidence of improving demand.
India's major brass and copper scrap commodities like brass bharat accessories, brass chadripital desi, brass pales scrap, brass pallu scrap, brass radiator desi , brass radiator imported, brass sheet cuttings, brass sheet scrap, brass shell 40mm, brass utensil scrap, acr copper coil 3/8, copper armature, copper cable scrap, copper sheet cutting, copper shell 40mm, copper wire bars and electrolytic copper strip 25mm showed a steady trend on Thursday.
The most active February copper contract on the India's Multi Commodity Exchange settled down by 1.46 percent to Rs. 398.05 per kilogram on Thursday from previous close of Rs. 403.95 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 404.45 per kilogram and an intra-day low of Rs. 396.80 per kilogram during Wednesday.
The dollar held broad gains, stoked by the prospect of an imminent U.S. interest rate hike, slugging the metals sector since the gains erode the purchasing power of those paying for commodities with other currencies. 
The U.S. Federal Reserve has been propelled toward a potential first sustained series of interest rate hikes in more than a decade by a surge in business and consumer confidence during President Donald Trump's first weeks in office - despite a dearth of firm policies from the administration.