India Brass, Copper Scrap prices advance in line with Futures as Escondida strike ending

INDIA March 24 2017 5:12 PM

NEW DELHI (Scrap Register): India's major brass and copper scrap prices advanced on Thursday, while copper futures prices at India's Multi Commodity Exchange edged up as workers agreed to resume work at Escondida, the world's top copper mine in Chile.

India's major brass and copper scrap commodities like brass sheet scrap, brass shell 40mm, acr copper coil 3/8, cc rod lme ++, copper armature, copper cable scrap, copper cathod lme ++, copper mixed scrap, copper pat, copper shell 40mm, copper super d.rod, copper wire scrap and electrolytic copper strip 25mm traded up on Thursday.

The most active April copper contract on the India's Multi Commodity Exchange settled slightly up by 0.51 percent to Rs. 383.85 per kilogram on Thursday from previous close of Rs. 381.90 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 384.40 per kilogram and an intra-day low of Rs. 379.40 per kilogram during Thursday.

The strike at Chile's Escondida is ending after workers decided to invoke a rarely used legal provision that allows them to extend their old contract, the union said on Thursday.