INDIA May 10 2017 4:33 PM
MUMBAI (Scrap Register): Major brass and copper scrap prices in India remained stable on Tuesday, while copper futures prices at India's Multi Commodity Exchange ended up as some investors looked for bargains after sharp overnight losses on fresh signs of a slowdown in Chinese demand.
India's major brass and copper scrap commodities like brass bharat accessories, brass chadripital desi, brass huny scrap, brass pales scrap, brass pallu scrap, brass radiator desi , brass radiator imported, brass sheet cuttings, brass sheet scrap, brass utensil scrap, copper mixed scrap, copper pat, copper sheet cutting, copper super d.rod, copper wire bars and copper wire scrap showed a flat trend on Tuesday.
The most active June copper contract on the India's Multi Commodity Exchange settled higher by 0.69 percent to Rs. 359.10 per kilogram on Tuesday from previous close of Rs. 356.65 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 361.40 per kilogram and an intra-day low of Rs. 355.60 per kilogram during Tuesday.
Daily LME data showed copper stocks down 8,725 tonnes at 342,825. However, they remain near their highest since last October, fueling pessimism over demand following hefty inflows in LME warehouses last week.