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India Brass, Copper prices show flat trend; Copper Futures fall

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MUMBAI (Scrap Register): India’s major brass and copper scrap commodities prices showed a flat trend on the Scrap Register Price Index as on Wednesday, tracking the down trend in Copper Futures prices at India’s Multi Commodity Exchange as firmness in dollar weighed following U.S. President Donald Trump’s upbeat comments about a trade deal with China.

India's major brass and copper scrap commodities prices including 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 heavy scrap, copper shell 40mm, copper utensil scrap, copper wire bars and electrolytic copper strip 25mm showed a steady trend on the Scrap Register Price Index as on Wednesday.

The most active February copper contract on India's Multi Commodity Exchange has dropped by 0.75 percent to Rs. 442.85 per kilogram on Wednesday from previous close of Rs. 446.20 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 445.80 per kilogram and an intra-day low of Rs. 442.10 per kilogram during Wednesday.

China has agreed to cut tariffs on U.S.-built cars and auto parts to 15 percent from 40 percent currently, while Trump said talks were taking place with Beijing by phone and he would not raise tariffs on Chinese imports until he was sure about a deal.

Trump also said he would intervene in the Justice Department’s case against a top executive at China’s Huawei Technologies if it would serve national security interests or help close a trade deal.

(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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