INDIA May 26 2017 5:01 PM
NEW DELHI (Scrap Register): India's major brass and copper scrap prices remained flat on Scrap Register Price Index as on Thursday in line with copper futures prices at India's Commodity Exchange, a day after dropping on concerns that slowing economic growth in China could hit demand from the world´s top metals consumer.
India's major brass and copper scrap commodities like brass accessories, brass bharat accessories, brass chadripital desi, brass pales scrap, brass pallu scrap, brass radiator desi, brass radiator imported, brass sheet cuttings, brass sheet scrap, brass shell 40mm, brass utensil scrap, cc rod lme ++, copper cable scrap, copper cathod lme ++, copper heavy scrap, copper mixed scrap, copper pat, copper sheet cutting, copper super d.rod, copper wire bars and copper wire scrap remained steady on Scrap Register Price Index as on Thursday.
The most active June copper contract on the India's Multi Commodity Exchange remained almost flat at Rs. 371.70 per kilogram on Thursday from previous close of Rs. 371.50 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 374.45 per kilogram and an intra-day low of Rs. 368.10 per kilogram during Thursday.
Moody´s Investors Service downgraded China´s credit ratings on Wednesday for the first time in nearly 30 years, saying it expects the financial strength of the economy will erode in coming years as growth slows and debt continues to rise.