By Vibin Antony
India’s major brass and copper scrap commodities prices dropped on the Scrap Register Price Index as on Monday, while Copper Futures prices at India’s Multi Commodity Exchange gained due to shortages created by tumbling inventories on the London Metal Exchange.
India's major brass and copper scrap commodities prices including brass accessories, brass huny scrap, brass shell 40mm, brass utensil scrap, acr copper coil 3/8, copper armature, copper cable scrap, copper heavy scrap, copper mixed scrap, copper pat, copper shell 40mm, copper super d.rod and copper utensil scrap declined on the Scrap Register Price Index as on Monday.
The most active November copper contract on India's Multi Commodity Exchange has gained by 0.15 percent to Rs. 445.35 per kilogram on Monday from previous close of Rs. 444.70 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 451.20 per kilogram and an intra-day low of Rs. 444.05 per kilogram during Monday.
Inventories of copper in LME approved warehouses at 143,125 tonnes are down more than 60 percent since the 2018 peak near 390,000 tonnes.
The problem is compounded by cancelled warrants -- metal earmarked for delivery -- at nearly 54 percent of total stocks and a large holding of copper warrants between 50 and 79 percent.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
India’s major brass and copper scrap commodities prices dropped on the Scrap Register Price Index as on Monday, while Copper Futures prices at India’s Multi Commodity Exchange gained due to shortages created by tumbling inventories on the London Metal Exchange.
India's major brass and copper scrap commodities prices including brass accessories, brass huny scrap, brass shell 40mm, brass utensil scrap, acr copper coil 3/8, copper armature, copper cable scrap, copper heavy scrap, copper mixed scrap, copper pat, copper shell 40mm, copper super d.rod and copper utensil scrap declined on the Scrap Register Price Index as on Monday.
The most active November copper contract on India's Multi Commodity Exchange has gained by 0.15 percent to Rs. 445.35 per kilogram on Monday from previous close of Rs. 444.70 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 451.20 per kilogram and an intra-day low of Rs. 444.05 per kilogram during Monday.
Inventories of copper in LME approved warehouses at 143,125 tonnes are down more than 60 percent since the 2018 peak near 390,000 tonnes.
The problem is compounded by cancelled warrants -- metal earmarked for delivery -- at nearly 54 percent of total stocks and a large holding of copper warrants between 50 and 79 percent.
(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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