India’s major brass and copper scrap commodities prices remained flat on the Scrap Register Price Index as on Monday, while Copper Futures prices at India’s Multi Commodity Exchange inched up mainly due to anxiety over a weakening Chinese economy and a stronger dollar.
India's major brass and copper scrap commodities prices including brass pales scrap, brass pallu scrap, brass sheet cuttings, brass sheet scrap, brass shell 40mm, brass utensil scrap, acr copper coil 3/8, copper armature, copper cable scrap, copper mixed scrap, copper pat, copper shell 40mm, copper super d.rod, copper wire bars, copper wire scrap and electrolytic copper strip 25mm showed a flat trend on the Scrap Register Price Index as on Monday.
The most active February copper contract on India's Multi Commodity Exchange has up by 0.48 percent to Rs. 440.55 per kilogram on Monday from previous close of Rs. 438.45 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 444.35 per kilogram and an intra-day low of Rs. 434.30 per kilogram during Monday.
According to Chinese customs data released over the weekend showed a 3 percent year-on-year drop in unwrought copper imports by top consumer China. China's factory prices rose in November at their slowest pace since October 2016 as domestic demand lost further momentum, piling pressure on policymakers to unveil more measures to support the economy.
(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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