India Brass, Copper Scrap prices gain; Copper Futures fall tracking weakness in Shanghai, London
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 tracking weakness in Shanghai and London market as a gloomy macro-economic outlook raised concerns over demand growth.
India's major brass and copper scrap commodities prices including brass sheet scrap, brass shell 40mm, acr copper coil 3/8, cc rod lme ++, copper armature, copper cable scrap, copper cathod lme ++, copper heavy scrap, copper mixed scrap, copper pat, copper shell 40mm, copper super d.rod, copper wire scrap and electrolytic copper strip 25mm gained on the Scrap Register Price Index as on Wednesday.
The most active September copper contract on India's Multi Commodity Exchange fell by nearly one percent to Rs. 458.70 per kilogram on Wednesday from previous close of Rs. 463.20 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 464.40 per kilogram and an intra-day low of Rs. 458.10 per kilogram during Wednesday.
Pressure also seen after the news that BHP, expects a plant at its Olympic Dam mine to restart this month following repairs and the company has found a way to deliver returns from the asset as part of a focus on maximising productivity.
(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)