India Brass, Copper Scrap prices climb; Copper Futures down as investors shift from commodities to stocks
MUMBAI (Scrap Register): India’s major brass and copper scrap commodities prices climbed on the Scrap Register Price Index as on Thursday, while copper futures prices at India's Multi Commodity Exchange driven by investors shift from commodities to stocks due to U.S. earnings optimism and a rise in oil prices.
India's major brass and copper scrap commodities prices including brass accessories, brass huny scrap, brass pales scrap, brass pallu scrap, brass sheet cuttings, brass sheet scrap, brass shell 40mm, brass utensil scrap, acr copper coil 3/8, cc rod lme ++, copper armature, copper cable scrap, copper cathod lme ++, copper heavy scrap, copper mixed scrap, copper pat, copper shell 40mm, copper super d.rod, copper wire scrap and electrolytic copper strip 25mm showed an uptrend on the Scrap Register Price Index as on Thursday.
The most active February copper contract on India's Multi Commodity Exchange has down 0.21 percent to Rs. 456.15 per kilogram on Thursday from previous close of Rs. 457.10 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 459.60 per kilogram and an intra-day low of Rs. 452.50 per kilogram during Thursday.
China’s imported unwrought copper reached 4.69 million mt in 2017, down 5.2% from levels seen in 2016. The import volume in December stood at 450,000 mt, down 4.3% from a month ago and down 8.2% from December 2016.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to email@example.com)