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India Brass, Copper Scrap prices stay flat; Copper Futures finish down

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MUMBAI (Scrap Register): India's major brass and copper scrap prices stayed flat on Thursday, while copper futures prices at India's Multi Commodity Exchange finished down at Rs. 402.05 per kilogram.

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India's major brass and copper scrap commodities like acr copper coil 3/8, copper armature, copper cable scrap,copper heavy scrap, copper sheet cutting, copper shell 40mm, copper utensil scrap, copper wire bars, electrolytic copper strip 25mm, brass radiator imported, brass radiator desi , brass pallu scrap, brass pales scrap, brass huny scrap, brass chadripital desi, brass bharat accessories and brass accessories showed a flat trend on Thursday.

The most active February copper contract on the India's Multi Commodity Exchange settled down by 0.56 percent to Rs. 402.05 per kilogram on Thursday from previous close of Rs. 404.30 per kilogram. Copper futures at MCX touched an intra-day high of Rs. 407.50 per kilogram and an intra-day low of Rs. 398.10 per kilogram during Thursday.

However, LME Copper prices slipped on Thursday but the prospect of supply disruption kept the price near a 20-month high. The London Metal Exchange's three-month copper contract was down 0.4% at $6,028.50 a metric ton. Other base metals were mixed.

The focus continued to be Chile's Escondida mine, majority owned by BHP Billiton Ltd., where a strike over pay has reportedly been postponed while union officials hold mediated talks with management.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com) 

 

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