By Vibin AntonyIndia’s major brass and copper scrap commodities prices gained on the Scrap Register Price Index as on Tuesday, tracking the uptrend in Copper Futures prices at India’s Multi Commodity Exchange mainly due to weaker dollar and confirmation that U.S.-China trade talks are still ongoing despite a recent diplomatic row over the arrest of a top executive of telecoms firm Huawei.
India's major brass and copper scrap commodities prices including brass accessories, brass shell 40m, acr copper coil 3/8, cc rod lme ++, copper armature, copper armature, copper cathod lme ++, copper heavy scrap, copper mixed scrap, copper pat, copper shell 40mm, copper super d.rod, copper wire scrap and electrolytic copper strip 25mm advanced on the Scrap Register Price Index as on Tuesday.
The most active February copper contract on India's Multi Commodity Exchange has gained by 1.29 percent to Rs. 446.20 per kilogram on Tuesday from previous close of Rs. 440.55 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 447.80 per kilogram and an intra-day low of Rs. 437.10 per kilogram during Tuesday.
China and the United States discussed the road map for the next stage of their trade talks on Tuesday, during a telephone call between Chinese Vice Premier Liu He and U.S. Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer.
(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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