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Daily Prediction of Indian Copper Scrap Price [August-05-21]

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by - 8/4/2021 505 Views

By Analyzing the Correlation between Copper Primary and Copper Scrap, we have predicted the Indian Copper Scrap Prices for August 5th, 2021

We have examined the interdependence between Copper base metal and Copper Scrap over the past 10 years (2011-2021) and that helps to predict the Copper Scrap prices based on MCX EOD (End of Day) prices of primary Copper. Using Ordinary Least Square (OLS), Linear Regression and Granger's Causality research methods, we have predicted the prices of Copper Scraps for 5th August. We have calculated the prices of Copper Scraps such as Copper Wire Scrap, Brass Hunny Scrap, Copper Heavy Scrap, Copper Utensil Scrap, and Hunny Yellow Scrap. This will provide valuable insights to Scrap Copper producers, traders, exporters, importers and Copper recycling companies

Predicted Value of Copper Scrap Price from Base Metal Copper Price

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Graphical Representation of Copper Base Metal Price

Nagercoil, India. MCX Copper Price in India settled at Rs. 738.05/KG on August 4th. Copper Prices dropped due to China’s low metal imports. China’s imports of unwrought Copper have been reaching lower since the sharp recovery from the coronavirus pandemic amid stimulus spending in the middle of last year. Surging Chinese Scrap Copper imports have been doubled in the first half of 2021 are also displacing to some extent refined cathode, concentrate, anode, and blister imports, says Roskill predicting the situation to worsen and potentially cripple the Copper price recovery.

The Linear Regression model predicts the Copper Scrap prices with an accuracy of over 98%. Our RIM research team, with the help of our AI wing, we have been researching Copper Scrap prices for more than a year and we will update it here. Subscribe for RIM Scrap Price Access and Current Copper Scrap prices.

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Tags : Copper, Copper Scrap, Copper Scrap Price, Copper Scrap Price Predictions

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About Jenisha Rajakumar

I'M a Research Analyst and Content Creator at RIM. Currently I'm researching on Copper Prices around the Globe and the impacts on Copper Scrap Prices with regard to COMEX, LME, SHFE and MCX. .... more info


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