INDIA June 23 2017 6:40 PM
NEW DELHI (Scrap Register): India's major brass and copper scrap prices gained on the Scrap Register Price Index as on Thursday tracking the firmness in copper futures prices at India's Multi Commodity Exchange triggered by data showing the metal's shift to a global supply deficit.
India's major brass and copper scrap commodities like brass sheet cuttings, brass shell 40mm, brass utensil scrap, acr copper coil 3/8, cc rod lme ++, copper armature, copper cable scrap, copper cathod lme ++, copper shell 40mm and electrolytic copper strip 25mm showed an up trend on the Scrap Register Price Index as on Thursday.
The most active June copper contract on the India's Multi Commodity Exchange settled higher by 0.11 percent to Rs. 370.60 per kilogram on Wednesday from previous close of Rs. 370.20 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 372.70 per kilogram and an intra-day low of Rs. 366.65 per kilogram during Thursday.
The global world refined copper market showed a deficit of 5,000 tonnes in March, compared with a 102,000 tonne surplus in February, industry data released this week showed.