INDIA June 06 2017 4:25 PM
NEW DELHI (Scrap Register): India's major brass and copper scrap prices declined on the Scrap Register Price Index as on Monday in line with copper futures prices at India's Commodity Exchange as the US dollar recovered and investors eyed an increase in Shanghai inventories.
India's major brass and copper scrap commodities like brass accessories, brass huny scrap, brass sheet cuttings, brass shell 40mm, brass utensil scrap, cc rod lme ++, copper armature, copper cathod lme ++, copper heavy scrap, copper mixed scrap, copper pat, copper super d.rod, copper utensil scrap and copper wire scrap showed a weak trend on the Scrap Register Price Index as on Monday.
The most active June copper contract on the India's Multi Commodity Exchange declined by 0.60 percent to Rs. 364.85 per kilogram on Monday from previous close of Rs. 367.05 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 366.10 per kilogram and an intra-day low of Rs. 361.80 per kilogram during Monday.
Concern about moderating demand trends in China including a slowdown in real estate price growth have unnerved the market.
Traders and investors are starting to look over the horizon, as key marketplace developments in the coming days include general elections in the U.K. and a European Union central bank meeting on Thursday, and the Federal Reserve’s FOMC meeting next week.