India Brass, Copper Scrap prices flat, Copper Futures settle higher
MUMBAI (Scrap Register): India’s major brass and copper scrap commodities prices showed a flat trend on the Scrap Register Price Index as on Tuesday, while copper futures prices at India's Multi Commodity Exchange settled slightly higher.
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, copper armature, copper cable scrap, copper heavy scrap, copper mixed scrap, copper pat, copper shell 40mm, copper super d.rod, copper wire bars,copper wire scrap and electrolytic copper strip 25mm showed a flat trend on the Scrap Register Price Index as on Tuesday.
The most active March copper contract on India's Multi Commodity Exchange settled higher by 0.16 percent to Rs. 450.95 per kilogram on Tuesday from previous close of Rs. 450.25 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 451.80 per kilogram and an intra-day low of Rs. 447.65 per kilogram during Tuesday.
Early starts to the multitude of labor negotiations due at Chilean copper mines this year could mitigate the risks to supply, Antofagasta chief executive officer Iván Arriagada said on Tuesday.
The copper market is expected to tighten in the second half of the year and to be in balance or in a slight deficit for the full year. From 2019 the likelihood of the market being in deficit is expected to increase as mine supply continues to be affected by the long-term trend of grade decline and lack of new investment.
(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)