India Brass, Copper Scrap prices down in line with MCX Copper
MUMBAI (Scrap Register): India’s major brass and copper scrap commodities prices slid on the Scrap Register Price Index as on Wednesday, tracking the weakness in Copper Futures prices at India’s Multi Commodity Exchange after comments by U.S. President Donald Trump stoked more worries about trade tensions with top metals consumer China.
India's major brass and copper scrap commodities prices including brass huny scrap, 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 utensil scrap and electrolytic copper strip 25mm dropped on the Scrap Register Price Index as on Wednesday.
The most active February copper contract on India's Multi Commodity Exchange has down by 0.61 percent to Rs. 437.20 per kilogram on Tuesday from previous close of Rs. 434.50 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 437.65 per kilogram and an intra-day low of Rs. 432.10 per kilogram during Wednesday.
Markets were unconvinced when China expressed confidence on Wednesday that it could reach a trade deal with the United States, after Trump renewed warnings he would revert to more tariffs if the two sides cannot resolve their differences.
(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)