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Comparison of Indian Copper Scrap Predicted Price and Actual Price [Sept-10-21]

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by - 9/10/2021 483 Views

Copper Prices on Friday (Sept-10-21) traded at Rs.719.50/KG in the MCX Futures.

Our RIM research team has been researching Copper Scrap prices for more than a year. In August, we have been predicting the Copper Scrap prices daily. Our research has gone successful and, we have predicted the US Copper Scrap prices with an accuracy of over 98%.

Using Granger's Causality, Ordinary Least Square (OLS), and Linear Regression research models, we have predicted the US and Canada Copper Scrap prices for the 10th of September 2021 (Predicted on September 9th, 2021). Now let’s compare the difference between the predicted Copper Scrap price and the Actual Copper Scrap price.

Results for Predicted Copper Scrap Price -Sept 10, 2021[Predicted on Sept 9, 2021]

Copper-Predictions-Comparison - India

Graphical Representation of Actual Copper Scrap Price vs. Predicted

Indian Copper Scrap Actual Price Vs Predicted Price - Sept 10, 2021

 

Nagercoil, India. Copper prices traded at Rs.719.50/INR on the 10th of September 2021.

The Copper price has been losing steam since last week due to slower factory activity in August across major parts of Europe and Asia. In China, manufacturing activity dropped for the first time in nearly one and a half years.

China’s state reserves administration also released 150,000 tonnes of Copper, Aluminum, and Zinc in the market that led to some cooling in Copper prices.

Meanwhile, China’s Copper imports in August dropped 41% year-on-year to their lowest since June 2019, as high prices and sluggish economic growth a hugely impacted the demand.

We have examined after a continuous daily prediction of Copper Scrap prices and concluded that our research has gone successful and, we have predicted the Copper Scrap prices with the difference value of 0.5 to 2%. Our RIM research team continues the research on Copper Scrap prices and we will update it her. Subscribe for RIM Scrap Price Access and Current Copper Scrap prices.

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Category : General

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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