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India Brass, Copper Scrap prices steady; Copper Futures bounce back

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MUMBAI (Scrap Register): India’s major brass and copper scrap commodities prices showed a steday trend on the Scrap Register Price Index as on Tuesday, while copper Futures prices at India’s Multi Commodity Exchange bounced back as investors shrugged off new tit-for-tat tariffs by China and the United States to send stock markets higher and the dollar lower.

India's major brass and copper scrap commodities prices including brass accessories, brass huny scrap, brass pales scrap, brass pallu scrap, brass sheet cuttings, brass sheet scrap, brass shell 40mm, brass utensil scrap, acr copper coil 3/8, copper armature, copper cable scrap, copper mixed scrap, copper pat, copper shell 40mm, copper super d.rod, copper utensil scrap, copper wire bars, copper wire scrap and electrolytic copper strip 25mm showed a flat trend on the Scrap Register Price Index as on Wednesday.

The most active September copper contract on India's Multi Commodity Exchange has advanced by 2.85 percent to Rs. 442.00 per kilogram on Wednesday from previous close of Rs. 429.75 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 443.95 per kilogram and an intra-day low of Rs. 427.40 per kilogram during Wednesday.

Fears that a U.S.-China trade war would dampen demand for commodities have pushed industrial metals sharply lower in recent months, with copper down 17 percent from a June high.

(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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