India Brass, Copper Scrap prices gain in line with MCX Copper

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By Vibin Antony
India’s major brass and copper scrap commodities prices gained on the Scrap Register Price Index as on Friday, tracking the up trend in Copper Futures prices at India’s Multi Commodity Exchange, after the presidents of the United States and China both expressed optimism about resolving a trade row between the two countries.

India's major brass and copper scrap commodities prices including brass accessories, brass huny scrap, copper cathod lme ++, copper heavy scrap, copper mixed scrap, copper super d.rod, copper utensil scrap and copper wire scrap gained on the Scrap Register Price Index as on Friday.

The most active November copper contract on India's Multi Commodity Exchange has advanced by 2.38 percent to Rs. 451.25 per kilogram on Friday from previous close of Rs. 440.75 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 452.70 per kilogram and an intra-day low of Rs. 437.30 per kilogram during Friday.

Copper, considered an economic bellwether, has been weighed down this year by fears the U.S.-China trade row will curb demand for industrial metals.

U.S. President Donald Trump wants to reach an agreement with Chinese President Xi Jinping at the Group of 20 nations summit in Argentina later this month.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)