INDIA July 20 2017 5:32 PM
NEW DELHI (Scrap Register): India's major brass and copper scrap prices declined on the Scrap Register Price Index as on Wednesday tracking the weakness in copper futures prices at India's Multi Commodity Exchange, after the U.S. dollar rose but higher steel prices and upbeat Chinese data boosted expectations of strong demand.
India's major brass and copper scrap commodities like brass shell 40mm, cc rod lme ++, copper cathod lme ++, copper mixed scrap, copper pat, copper super d.rod and copper wire scrap declined on the Scrap Register Price Index as on Wednesday.
The most active August copper contract on India's Multi Commodity Exchange has slightly down by 0.71 percent to Rs. 386.25 per kilogram on Wednesday from previous close of Rs. 389.00 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 390.00 per kilogram and an intra-day low of Rs. 385.40 per kilogram during Wednesday.
The U.S. dollar firmed, making dollar-denominated commodities slightly more expensive for holders of other currencies and potentially curbing demand. The greenback was still near 10-month lows, though.