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Copper Scrap Price Prediction - India [Sept-21-21]

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by - 9/20/2021 511 Views

On the Multi Commodity Exchange, Copper Prices on the 20th of September traded at Rs.717.45/KG

Using Ordinary Least Square (OLS), Linear Regression, and Granger's Causality research models, we have predicted the Copper Scrap prices (September 21, 2021) such as Copper Wire Scrap, Brass Hunny, Copper Heavy Scrap, Copper Utensil Scrap, and Hunny Yellow. Copper Scrap Price predictions will provide valuable insights to Scrap Copper producers, traders, exporters, importers and Copper recycling companies.

In August, we have been in the process of predicting the Copper Scrap prices. Our research has gone successful and, we have predicted the Copper Scrap prices with the difference value of 0.5 to 2%.

Predicted Value of Copper Scrap Price from Copper Base Metal Price

Graphical Representation of Copper Base Metal Price 

Current-MCX-Copper-Price

Nagercoil, India. MCX Copper prices traded at Rs.717.45/KG on Monday (Sept-20-21). Copper price declines in the previous week of September as labour conflicts in Chile resolved, supply concerns fade.

For the past few months, there was labor conflict in the top Copper Mining Company, Chile. Due to this, supply disruption arises globally. Last week, mining companies in Chile have resolved a series of labor conflicts. The plant workers at Codelco’s Andina mine agreed to end a more than three-week stoppage. Simultaneously, workers at BHP Group’s Cerro Colorado mine accepted an offer hammered out by the two negotiating teams in mediated talks, avoiding a strike.

Copper prices in September drops 1.16% or Rs.8.45 from the Friday’s settlement price (Sept 17, 2021) of 725.90 INR/KG, touching 717.45INR/KG (Sept 20, 2021) on the MCX Futures.

The Linear Regression model predicts the Copper Scrap prices with an accuracy of over 98%. Our RIM research team still continues the research on Copper Scrap prices and we will update it here. Subscribe for RIM Scrap Price Access and Current Copper Scrap prices.

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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