INDIA June 01 2017 4:22 PM
NEW DELHI (Scrap Register): India's major brass and copper scrap prices fell on Scrap Register Price Index as on Wednesday, while copper futures prices at India's Commodity Exchange settled higher as the data showed Chinese manufacturing sector expanded at a solid pace in May.
India's major brass and copper scrap commodities like brass accessories, brass huny scrap, copper armature, copper mixed scrap, copper pat, copper shell 40mm, copper super d.rod, copper wire scrap and electrolytic copper strip 25mm showed a down trend on the Scrap Register Price Index as on Wednesday.
The most active June copper contract on the India's Multi Commodity Exchange gained by 0.44 percent to Rs. 368.75 per kilogram on Wednesday from previous close of Rs. 367.15 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 369.60 per kilogram and an intra-day low of Rs. 365.10 per kilogram during Wednesday.
China's data reveled that growth in China's manufacturing sector in May kept pace with the previous month, an official survey showed on Wednesday, beating expectations in a reassuring sign the world's second-biggest economy is not losing too much steam after a solid first quarter performance.