India Brass, Copper Scrap prices decline; Copper Futures up 1.46 percent
MUMBAI (Scrap Register): India’s major brass and copper scrap prices declined on the Scrap Register Price Index as on Monday, while copper futures prices at India's Multi Commodity Exchange settled higher in line with the uptrend in Copper prices at London Metal Exchange.
India's major brass and copper scrap commodities prices including brass accessories, brass huny scrap, brass pales scrap, brass pallu scrap, brass sheet scrap, acr copper coil 3/8, copper cable scrap, copper mixed scrap, copper pat, copper shell 40mm, copper super d.rod and copper wire scrap showed a down trend on the Scrap Register Price Index as on Monday.
The most active November copper contract on India's Multi Commodity Exchange climbed by 1.46 percent to Rs. 450.90 per kilogram on Monday from previous close of Rs. 444.40 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 453.40 per kilogram and an intra-day low of Rs. 444.05per kilogram during Monday.
Copper prices at London Metal Exchange got some support after the Indonesian unit of Freeport-McMoRan Inc closed the main supply route to its huge Grasberg copper mine on Sunday following a shooting incident, but it was reopened on Monday.
LME copper advanced 1.6 percent to finish at $6,895 a ton, after small losses in the previous session. Prices last week fell to the weakest in around a month at $6,761.50.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to firstname.lastname@example.org)