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Indian Copper Scrap Price Forecast – June 3, 2022

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by - 6/1/2022 3978 Views

Copper Scrap Prices in India have fallen because of the stronger dollar index.

By analyzing the correlation between Copper prices and Copper Scrap prices, our RIM research team forecasted Copper Scrap prices in India for June 3, 2022, using Linear Regression and Granger's Causality models.

Copper Scrap Prices are inherently related to Copper Base Metal Prices. Copper Scrap price forecasting helps us understand current market trends in the scrap business and the external factors that influence Copper pricing and Copper Scrap Prices.

Copper Scrap Prices Forecast for June 3, 2022, in India

Copper Scrap Predicted Price
Hunny Yellow (Jamnagar) ₹ 526.20
Brass Hunny (Jamnagar) ₹ 512.16
Copper Utensil (Mumbai) ₹ 703.12
Copper Heavy (Mumbai) ₹ 772.00
Copper Wire (Delhi) ₹ 721.33

Graphical Representation of MCX Copper Base Metal Price (INDIA)

Indian Copper Scrap Price Forecast – June 3, 2022

Copper prices in India dropped 1.38% or Rs.10.80 from the previous settlement price and decreased to Rs.771.65 per KG in the MCX Futures.

Copper prices slipped on Wednesday due to a stronger dollar, inflation rate hikes, and negative pressure beginning this month. Meanwhile, Copper prices rose last week on expectations of increased demand from China, upholding lockdown restrictions.

Copper prices fell 18% in two months after reaching a record high of Rs.871 per KG in early March due to low global inventories. "Inventories of most metals have declined, which has raised the risk of extreme volatility," said Bank of America analyst Michael Widmer. 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 Scraps in India are trading at

Copper Cable Scrap Prices (Mumbai): Rs.779/KG

Copper Heavy Scrap Prices (Mumbai): Rs.769/KG

Copper Utensil Scrap Prices (Mumbai): Rs.700/KG

Copper Wire Scrap Prices (Delhi): Rs.718/KG

Hunny Yellow Scrap Prices (Jamnagar): Rs.520/KG

Brass Hunny Scrap Prices (Jamnagar): Rs.504/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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