MUMBAI (Scrap Register): India’s major brass and copper scrap commodities prices climbed on the Scrap Register Price Index as on Friday, while copper futures prices at India's Multi Commodity Exchange settled higher mainly due to the better-than-expected China economic data.
India's major brass and copper scrap commodities prices including brass accessories, brass huny scrap, brass shell 40mm, acr copper coil 3/8, copper armature, copper cable 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 Friday.
The most active February copper contract on India's Multi Commodity Exchange has advanced by 0.5 percent to Rs. 450.45 per kilogram on Friday from previous close of Rs. 452.70 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 456.00 per kilogram and an intra-day low of Rs. 450.00 per kilogram during Friday.
China Q4 GDP 6.8 percent year-on-year compared with a forecast of 6.7 percent. Analysts polled by Reuters expected the world’s second-largest economy to have grown 6.7 percent in the October-December quarter from a year ago.
China's economy grew faster than expected in the fourth quarter of 2017, as an export recovery helped the country post its first annual acceleration in growth in seven years, defying concerns that intensifying curbs on industry and credit would hurt expansion.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
