News and Events

India’s major brass and copper scrap commodities prices continued to show down trend on the Scrap Register Price Index as on Monday, in line with copper futures prices at India's Multi Commodity Exchange mainly due to fall in equities as investors trimmed positions ahead of a Federal Reserve meeting starting later in the day, while the dollar edged upwards. India's major brass and copper scrap commodities prices including brass sheet cuttings, brass shell 40mm, acr copper coil 3/8, cc rod lme ++, copper armature, copper cable scrap, copper cathod lme ++, copper heavy scrap, copper utensil scrap, copper wire scrap and electrolytic copper strip 25mm showed a down trend on the Scrap Register Price Index as on Monday. The most active March copper contract on India's Multi Commodity Exchange settled higher by 0.41 percent to Rs. 446.70 per kilogram on Monday from previous close of Rs. 448.55 per kilogram. Copper Futures at MCX touched an intra-day high of Rs. 449.20 per kilogram and an intra-day low of Rs. 442.25 per kilogram during Monday. A stronger dollar makes metals more expensive for holders of other currencies and can weigh on prices. Investors remain concerned the United States is sliding deeper into protectionism, with a report this week that Trump is seeking to impose tariffs on up to $60 billion of Chinese imports.