MUMBAI (Scrap Register): India’s major brass and copper scrap commodities prices gained on the Scrap Register Price Index as on Thursday, while copper futures prices at India's Multi Commodity Exchange settled down in line with copper futures prices at London Metal Exchange.
India's major brass and copper scrap commodities prices including 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 upper trend on the Scrap Register Price Index as on Thursday.
The most active April copper contract on India's Multi Commodity Exchange settled down by 0.47percent to Rs. 456.95 per kilogram on Thursday from previous close of Rs. 459.10 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 464.00 per kilogram and an intra-day low of Rs. 453.45 per kilogram during Thursday.
Copper futures prices at London Metal Exchange has traded down 0.6 percent in rings at $6,980 a ton on Thursday.
Copper prices are overall down so far this year after hitting a four year high in December amid concerns that protectionist trade policies and the prospect of an economic slowdown in China, the world’s largest consumer of industrial metals, could hit demand.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)