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India Brass, Copper Scrap prices advance; Copper Futures up

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MUMBAI (Scrap Register): India’s major brass and copper scrap commodities prices advanced on the Scrap Register Price Index as on Thursday, while copper Futures prices at India’s Multi Commodity Exchange as worries over global economic growth lingered.

India's major brass and copper scrap commodities prices including brass accessories, acr copper coil 3/8, cc rod lme ++, copper armature, copper cable scrap, copper cathod lme ++, copper heavy scrap, copper shell 40mm, copper utensil scrap and electrolytic copper strip 25mm gained on the Scrap Register Price Index as on Thursday.

The most active February copper contract on India's Multi Commodity Exchange has gained by 0.64 percent to Rs. 446.30 per kilogram on Thursday from previous close of Rs. 449.15 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 450.30 per kilogram and an intra-day low of Rs. 445.65 per kilogram during Thursday.

A steady drum beat of weak economic data in recent weeks, including in top metals consumer China, has stoked fears of a global recession.

(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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