INDIA June 09 2017 5:32 PM
NEW DELHI (Scrap Register): India's major brass and copper scrap prices fell on the Scrap Register Price Index as on Thursday, while copper futures prices at India's Multi Commodity Exchange settled higher, after severe weather hit some mines in South America and labor issues recurred in Indonesia.
India's major brass and copper scrap commodities like brass accessories, brass huny scrap, brass shell 40mm, brass utensil scrap, acr copper coil 3/8, copper armature, copper cable scrap, copper heavy scrap, copper mixed scrap, copper pat, copper shell 40mm, copper super d.rod, copper wire scrap and electrolytic copper strip 25mm traded lower on the Scrap Register Prices Index as on Thursday.
The most active June copper contract on the India's Multi Commodity Exchange edged up by 1.92 percent to Rs. 370.85 per kilogram on Thursday from previous close of Rs. 363.85 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 371.05 per kilogram and an intra-day low of Rs. 362.50 per kilogram during Thursday.
The investors turned their attentions to the snow and strong winds seen so far this week in northern Chile's Atacama Desert. The weather had reduced output at BHP Billiton's Escondida mine, Codelco's Chuquicamata operation, and Antofagasta's Zaldivar project among others.