INDIA June 22 2017 5:38 PM
NEW DELHI (Scrap Register): India's major brass and copper scrap prices fell on the Scrap Register Price Index as on Wednesday, while copper futures prices at India's Multi Commodity Exchange gained in response to a retreat in the U.S. dollar from its recent peaks and evidence of tightening supply.
India's major brass and copper scrap commodities like brass accessories, brass huny scrap, brass sheet cuttings, brass sheet cuttings, brass shell 40mm, brass utensil scrap, cc rod lme ++, copper cathod lme ++, copper heavy scrap, copper mixed scrap, copper pat, copper super d.rod and copper wire scrap showed an down trend on the Scrap Register Price Index as on Wednesday.
The most active June copper contract on the India's Multi Commodity Exchange settled higher by 1.37 percent to Rs. 370.20 per kilogram on Wednesday from previous close of Rs. 365.20 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 372.10 per kilogram and an intra-day low of Rs. 362.80 per kilogram during Wednesday.
Boston Fed President Eric Rosengren said low interest rates do pose financial stability concerns that central bankers and the private sector must take seriously while Bill Dudley, head of the New York Federal Reserve, a day earlier, downplayed the recent slowdown in inflation, warning that halting rate increases at this point would be dangerous.