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Copper Scrap Price Prediction - India [Sept-23-21]

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by - 9/22/2021 494 Views

On the Multi Commodity Exchange, Copper Prices on the 22nd of September traded at Rs.699.60/KG

We have predicted the Copper Scrap prices for the 23rd of September by using Ordinary Least Square (OLS), Linear Regression and Granger's Causality research models. We have predicted the prices of Copper Scraps such as Copper Wire Scrap, Brass Hunny, Copper Heavy Scrap, Copper Utensil Scrap, and Hunny Yellow.

Examining the interdependence between Copper base metal and Copper Scrap over the past 10 years (2011-2021) and that helps to predict the Indian Copper Scrap prices based on MCX EOD (End of Day) prices of primary Copper. Copper Scrap Price prediction will provide valuable insights to Copper Scrap producers, traders, exporters, importers and Copper recycling companies.

Predicted Value of Copper Scrap Price from Copper Base Metal Price

Copper Scrap Price Prediction - India (Sept 23, 2021)

           Graphical Representation of Copper Base Metal Price

Current MCX Copper Price India

Nagercoil, India. MCX Copper price in India settled at Rs.699.60/INR on Wednesday (Sept-23-2021).

Copper prices are quickly heading down towards their August low and perhaps lower. Copper demand continues to outstrip supply, according to the recent update from the International Copper Study Group. However, speculation around China’s Evergrande and what it may mean for Chinese property development is punishing Copper prices to the lowest ever since.

Copper prices in September decreases 0.98% or Rs.6.9 from the Tuesday’s settlement price (September 21, 2021) of Rs.706.50/KG, touching Rs.699.60/KG (September 22, 2021) on the MCX in India.

Our RIM research team has been researching Copper Scrap prices for more than a year. For the past two months, we have been in the process of predicting the US Copper Scrap prices. Our research has gone successful and we have predicted with the difference value of 0.5 to 2%.

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.

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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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