India Brass, Copper Scrap prices advance; Copper Futures settle down by 1.42 percent

UNITED STATES April 07 2017 3:31 PM

NEW DELHI (Scrap Register): India major brass and copper scrap prices advanced on Thursday, while copper futures prices at India's Multi Commodity Exchange settled down amid the anticipation for a meeting between U.S. President Donald Trump and China's leader Xi Jinping.

India's major copper scrap commodities like brass accessories, brass huny scrap, copper cathod lme ++, copper heavy scrap, copper mixed scrap, copper pat, copper super d.rod, copper utensil scrap and copper wire scrap traded higher on Thursday.

The most active April copper contract on the India's Multi Commodity Exchange settled down by 1.42 percent to Rs. 380.65 per kilogram on Thursday from previous close of Rs. 386.15 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 385.40 per kilogram and an intra-day low of Rs. 378.80 per kilogram during Thursday.

Copper prices look firm as support seen after dollar dropped after the United States launched cruise missiles against an air base in Syria. 

In Asia, investors were paring risk before a potentially tense meeting between U.S. President Donald Trump and Chinese counterpart Xi Jinping later on Thursday where China's trade surplus will be high on the agenda.