India Brass, Copper Scrap prices drop as US-China trade war weighs
MUMBAI (Scrap Register): India’s major brass and copper scrap commodities prices dropped on the Scrap Register Price Index as on Friday, while copper futures prices at India's Multi Commodity Exchange gained on concerns about weaker demand amid a U.S.-China trade dispute.
India's major brass and copper scrap commodities prices including brass utensil scrap, cc rod lme ++, copper armature, copper cable scrap, copper cathod lme ++, copper mixed scrap, copper pat, copper shell 40mm, copper super d.rod and copper wire scrap showed a down trend on the Scrap Register Price Index as on Friday.
The most active August copper contract on India's Multi Commodity Exchange has advanced to Rs. 422.70 per kilogram on Friday from previous close of Rs. 421.85 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 424.10 per kilogram and an intra-day low of Rs. 418.80 per kilogram during Friday.
A trade war between Washington and Beijing has raised concerns over demand in top industrial metals consumer China.
The Trump administration said it would slap 10 percent tariffs on another $200 billion worth of Chinese imports, raising fears the festering trade dispute between the world’s two biggest economies could hit global growth.
(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)