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Prolong Bearish Of Copper Demand in Indian Trade Market

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by - 11/6/2012 8211 Views

It is reported that there is prolong fluctuations in copper market i.e the trade of copper remains sluggish in India when compared to other ferrous and non ferrous metals.

As per the recent statistics, it is reported that the value and trade of copper in global market shed down by INR 2 per kilogram in ferrous and non ferrous metal market because of the lethargy in industrial scrap demand.

The main reason for this bearish of copper trade in India is due to hurricane sandy which affect US and slow down the economic growth and scrap needs of US, the second largest buyer of the metal.  Since the needs of scrap buyers are diminished, the trade becomes lessen which in turn sheds down the price of copper by 2 INR per kilogram. Mean time, the price of copper dropped to 0.6% to USD 0.5% per ton on metal exchange market.

This unexpected trade scenario also reflects on the price of other metal such as zinc ingot, nickel plate, gun metal scrap, copper mixed scrap, lead ingot, aluminum utensils, wire scrap, and lot more.

This price variation and trade market index has now drastically changed the demand and market value of copper in global market. Indian traders are raring to see the positive results in copper trade to receive the profitable global economy.

Category : Metal

Tags : price of copper, lead ingot, price variation, gun

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About sunitha k.s

It’s me Sunitha from RecycleInMe. I write interesting news and updates related to recycling and scrap trading industry. Being an environment enthusiastic, I am feeling so proud to work in RecycleInMe (RIM).

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