India Brass, Copper Scrap prices fall as US plans to impose tariffs on $200 bn Chinese goods
MUMBAI (Scrap Register): India’s major brass and copper scrap commodities prices dropped on the Scrap Register Price Index as on Wednesday, in line with copper futures prices at India's Multi Commodity Exchange, after the Trump administration escalated the trade war by proposing to levy tariffs on an additional US$200 billion of Chinese goods.
India's major brass and copper scrap commodities prices including Brass Accessories, Brass huny Scrap, CC Rod LME ++, Copper cathod LME ++, Copper heavy scrap, Copper Mixed Scrap, Copper Pat, Copper Super D.Rod, Copper utensil scrap and Copper Wire Scrap showed a down trend on the Scrap Register Price Index as on Wednesday.
The most active August copper contract on India's Multi Commodity Exchange fell by nearly 3 percent to Rs. 420.15 per kilogram on Wednesday from previous close of Rs. 433.10 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 430.00 per kilogram and an intra-day low of Rs. 416.80 per kilogram during Wednesday.
However, three-month copper on the London Metal Exchange dropped as much as 4 percent to $6,081 a ton, its lowest since July last year, before recovering to $6,146 by down 2.9 percent.
(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)