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India Brass, Copper Scrap prices advance further; Copper Futures up

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MUMBAI (Scrap Register): India’s major brass and copper scrap commodities prices gained further on the Scrap Register Price Index as on Monday, tracking the uptrend in Copper Futures prices at India’s Multi Commodity Exchange, with hopes of a resolution to the US-China trade war outweighing the threat of higher U.S. tariffs on Chinese goods.

India's major brass and copper scrap commodities prices including brass sheet scrap, brass shell 40mm, cc rod lme ++, copper armature, copper cable scrap, copper cathod lme ++, copper shell 40mm and electrolytic copper strip 25mm advanced on the Scrap Register Price Index as on Monday.

The most active November copper contract on India's Multi Commodity Exchange has advanced by 1.43 percent to Rs. 441.35 per kilogram on Monday from previous close of Rs. 442.90 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 443.00 per kilogram and an intra-day low of Rs. 438.00 per kilogram during Monday.

U.S. President Donald Trump last week said China was willing to take steps to resolve the prolonged US-China trade conflict, but Vice President Mike Pence said on Saturday that the United States might double its tariffs unless Beijing bows to U.S. demands.

(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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