India Brass, Copper Scrap prices up; Copper Futures down 1.45 percent
MUMBAI (Scrap Register): India’s major brass and copper scrap commodities prices gained on the Scrap Register Price Index as on Wednesday, while copper futures prices at India's Multi Commodity Exchange fell in line with Copper prices at London Metal Exchange.
India's major brass and copper scrap commodities prices including brass huny scrap, brass shell 40mm, acr copper coil 3/8, copper armature,copper shell 40mm copper cable scrap, copper shell 40mm and electrolytic copper strip 25mm advanced on the Scrap Register Price Index as on Wednesday.
The most active June copper contract on India's Multi Commodity Exchange has declined by 1.45 percent to Rs. 465.20 per kilogram on Wednesday from previous close of Rs. 472.00 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 471.90 per kilogram and an intra-day low of Rs. 462.80 per kilogram during Wednesday.
Copper prices at London Metal Exchange was down 2.1 percent at $6,830 a ton, after peaking at $6,999 on Tuesday, its lowest since April 26.
LME Copper dropped as U.S. President Donald Trump tempered optimism that a China-U.S. trade stand-off was at an end, knocking appetite for cyclical assets and helping pull the metal from the previous day’s near one-month high.
(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)