NEW DELHI (Scrap Register): India major brass and copper scrap prices gained on Monday, while copper futures prices at India's Multi Commodity Exchange settled down amid encouraging trade signals out of Asia, although the world's top user China was out for a long weekend, draining the market of direction.
India's major brass and copper scrap commodities like brass accessories, brass pales scrap, brass pallu scrap, copper cable scrap, copper mixed scrap, copper pat, copper super d.rod, copper utensil scrap and copper wire scrap are traded higher on Monday.
The most active April copper contract on the India's Multi Commodity Exchange settled down by 1.602 percent to Rs. 374.65 per kilogram on Monday from previous close of Rs. 380.75 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 382.45 per kilogram and an intra-day low of Rs. 374.40 per kilogram during Monday.
LME copper last week hit its loftiest in nearly a month at $5,985 a tonne, as it enters the seasonally strongest second quarter. Volumes were low across the complex with less than 1500 lots of turnover of the benchmark contracts combined.