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Copper Scrap Price Forecast: INDIA (June-02-22)

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by - 5/31/2022 1613 Views

Copper Scrap price forecast helps us understand current market trends in the scrap business and the external factors that impact Copper Scrap prices

Using Linear Regression and Granger's Causality techniques, our RIM research team forecasted Copper Scrap prices in India for June 2, 2022.

Copper Scrap prices are inextricably connected to Copper Base Metal prices. Copper Scrap price forecasting makes us know the current market trends in the scrap industry and the external factors that influence Copper Scrap prices.

Copper Scrap Forecasted Price for June 2, 2022 in India

Copper Scrap Predicted Price
Hunny Yellow (Jamnagar) ₹ 531.99
Brass Hunny (Jamnagar) ₹ 520.61
Copper Utensil (Mumbai) ₹ 714.61
Copper Heavy (Mumbai) ₹ 784.64
Copper Wire (Delhi) ₹ 731.95

Graphical Representation of MCX Copper Base Metal Price (INDIA)

Copper Scrap Price Forecast India -June 2nd, 2022

Copper prices in India hit a one-month high of Rs.782.45 per Kg (MAY-31-22), which is 0.21% up from the previous closing price.

Copper prices rose as the US dollar fell, despite concerns about an economic slowdown in top metals consumer China, where demand has recently begun to rise as China relaxed covid-19 restrictions.

“Inventories of most metals have declined, which has raised the risk of extreme volatility,” said Bank of America analyst Michael Widmer. “This is visible in zinc at present.” This implies that metal scarcity may occur shortly as inventories in global warehouses approach low stockpiles, which may support Copper prices to reach new highs in the coming days.

As of today, Copper Scrap prices in India are now trading at,

Copper Cable Scrap Prices (Mumbai): Rs.775/KG

Copper Heavy Scrap Prices (Mumbai): Rs.766/KG

Copper Utensil Scrap Prices (Mumbai): Rs.695/KG

Copper Wire Scrap Prices (Delhi)Rs.714/KG

Hunny Yellow Scrap Prices (Jamnagar): Rs.518/KG

Brass Hunny Scrap Prices (Jamnagar)Rs.502/KG

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Category : General

Tags : Copper, Copper Prices, Copper Scrap, Copper Scrap Prices, Copper Scrap Price Forecast India, Copper Scrap Price Predictions INDIA

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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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