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India Brass, Copper Scrap prices fall further tracking the weakness in MCX Copper

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MUMBAI (Scrap Register): India’s major brass and copper scrap commodities prices fell further on the Scrap Register Price Index as on Wednesday, tracking the weakness in copper Futures prices at India’s Multi Commodity Exchange as the United States geared up to begin collecting tariffs on a further $16 billion of Chinese goods later this month but a weaker dollar stemmed losses.

India's major brass and copper scrap commodities prices brass accessories, brass huny scrap, brass pales scrap, brass shell 40mm, acr copper coil 3/8, copper armature, copper cable scrap, copper heavy scrap, copper mixed scrap, copper pat, copper shell 40mm, copper utensil scrap, copper wire scrap and electrolytic copper strip 25mm 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 has edged down 0.02 percent to Rs. 418.00 per kilogram on Wednesday from previous close of Rs. 418.10 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 421.60 per kilogram and an intra-day low of Rs. 416.25 per kilogram during Wednesday.

China’s imports of copper concentrate rose to an all-time high last month as Chinese smelters ramped up purchases to feed their growing capacity and take advantage of high processing charges.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

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