India Brass, Copper Scrap prices fall further in line with Copper Futures

INDIA March 10 2017 4:17 PM

MUMBAI (Scrap Register): India's major brass and copper scrap prices fell further on Thursday, while copper futures prices at India's Multi Commodity Exchange settled down, reflecting losses across the industrial metals and other assets as markets geared up for an expected hike in US interest rates this month.

India's major brass and copper scrap commodities like brass accessories, brass huny scrap, brass pales scrap, brass pallu scrap, brass sheet cuttings, brass sheet scrap, brass shell 40mm, brass utensil scrap, acr copper coil 3/8, copper armature,copper cable scrap, copper cathod lme ++,copper heavy scrap, copper mixed scrap, copper pat, copper shell 40mm, copper super d.rod, copper utensil scrap, copper wire scrap and electrolytic copper strip 25mm traded lower on Thursday.

The most active April copper contract on the India's Multi Commodity Exchange settled down by 0.95 percent to Rs. 381.70 per kilogram on Thursday from previous close of Rs. 386.80 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 385 per kilogram and an intra-day low of Rs. 378.75 per kilogram during Thursday.

Another large build in London Metal Exchange copper stocks and news from Chile that BHP Billiton was mulling bringing in temporary workers to ease the effects of a strike at its Escondida copper mine also pressured copper prices.