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India Brass, Copper Scrap prices stay stable; Copper Futures settle down

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NEW DELHI (Scrap Register): India's major brass and copper scrap prices stayed stable on Friday, while copper futures prices at India's Multi Commodity Exchange slipped after workers agreed to resume work at Escondida, the world's top copper mine in Chile.

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

The most active April copper contract on the India's Multi Commodity Exchange settled down by 0.81 percent to Rs. 380.75 per kilogram on Friday from previous close of Rs. 383.85 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 383.45 per kilogram and an intra-day low of Rs. 379.00 per kilogram during Friday.

In the short term, investors were jittery on prospects that President Donald Trump's healthcare bill would not pass, suggesting he may not be able to muster the backing needed to push through fiscal measures central to the government's economic agenda. At the moment there is no fear of a lack of supply even though we have massive supply side issues across the board.

(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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