By Vibin Antony
India’s major brass and copper scrap commodities prices fell on the Scrap Register Price Index as on Friday, tracking the weakness in Copper Futures prices at India’s Multi Commodity Exchange led by a worsening commodities slump that has punished materials across the board.
India's major brass and copper scrap commodities prices including brass accessories, brass huny scrap, brass pales scrap, brass pallu scrap, brass sheet scrap, copper mixed scrap, copper pat, copper super d.rod and copper wire scrap declined on the Scrap Register Price Index as on Friday.
The most active November copper contract on India's Multi Commodity Exchange has fell by 1.78 percent to Rs. 431.25 per kilogram on Friday from previous close of Rs. 439.05 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 438.20 per kilogram and an intra-day low of Rs. 429.70 per kilogram during Friday.
A recent slump in oil prices has also hurt metals, as some investors trade both energy commodities and materials in a single basket.
Concerns over global trade tensions also remained in focus amid doubts over the potential for a trade deal between the U.S. and China. The U.S. Federal Reserve kept interest rates steady but reaffirmed its monetary tightening stance, setting the stage for a rate hike in December.
The Fed held interest rates steady on Thursday but remained on track to keep gradually tightening borrowing costs, as it pointed to a healthy economy that was marred only by a dip in the growth of business investment.
(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 fell on the Scrap Register Price Index as on Friday, tracking the weakness in Copper Futures prices at India’s Multi Commodity Exchange led by a worsening commodities slump that has punished materials across the board.
India's major brass and copper scrap commodities prices including brass accessories, brass huny scrap, brass pales scrap, brass pallu scrap, brass sheet scrap, copper mixed scrap, copper pat, copper super d.rod and copper wire scrap declined on the Scrap Register Price Index as on Friday.
The most active November copper contract on India's Multi Commodity Exchange has fell by 1.78 percent to Rs. 431.25 per kilogram on Friday from previous close of Rs. 439.05 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 438.20 per kilogram and an intra-day low of Rs. 429.70 per kilogram during Friday.
A recent slump in oil prices has also hurt metals, as some investors trade both energy commodities and materials in a single basket.
Concerns over global trade tensions also remained in focus amid doubts over the potential for a trade deal between the U.S. and China. The U.S. Federal Reserve kept interest rates steady but reaffirmed its monetary tightening stance, setting the stage for a rate hike in December.
The Fed held interest rates steady on Thursday but remained on track to keep gradually tightening borrowing costs, as it pointed to a healthy economy that was marred only by a dip in the growth of business investment.
(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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