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Copper Scrap Price Forecast: INDIA – June 16, 2022

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by - 6/14/2022 1147 Views

Copper Scrap prices in India have been declining for more than a week due to China's muted demand growth outlook caused by new Covid limitations.

“Copper Prices” are one of the most frequently discussed topics because they reflect the global economy's health. Copper prices have been significantly impacted due to the recent global crisis, making it more difficult for investors to decide when to invest in this industry.

To find a solution, our RIM researchers forecasted Copper Scrap prices in India for June 16, 2022, by examining the connection between Copper prices and Copper Scrap Prices.

Our Copper Scrap price forecast will assist Copper Scrap traders/recyclers and investors understand current supply and demand-side issues affecting Copper Scrap prices. Meanwhile, Copper Scrap price predictions help them determine when to buy or sell Copper Scraps at maximum profits in the coming days.

Copper Scrap Prices Forecast for June 16, 2022 in INDIA

Copper Scrap Predicted Price
Hunny Yellow (Jamnagar) ₹ 524.70
Brass Hunny (Jamnagar) ₹ 508.29
Copper Utensil (Mumbai) ₹ 696.19
Copper Heavy (Mumbai) ₹ 765.02
Copper Wire (Delhi) ₹ 714.59

Graphical Representation of MCX Copper Base Metal Price (INDIA)

Copper Scrap Price Forecast: INDIA – June 16, 2022

Copper prices fell on Tuesday, weighed down by a stronger US dollar index, fears of possible lockdowns in top consumer China, and the possibility of aggressive rate hikes by the Federal Reserve.

The emerging fresh Covid cases in major cities of China implemented new Covid limitations, which muted the import/export of industrial metals, especially Copper and scrap metals.

Copper prices reached a one-month high of Rs.807 per K.G. in June, as China's Covid limits were relaxed and normal activity resumed. Copper prices have now dropped further to Rs.762.8 per K.G. due to rising concerns about demand expectations due to new restrictions in China.

Similarly, the U.S. dollar index increased 20-year peak, making greenback-denominated metals more expensive for buyers using other currencies.

Meanwhile, the Copper supply from Peru's largest mine, Las Bambas, has resumed normal operations after a 51-day shutdown. As a result, it is expected that Copper supply from mines will support Copper prices in the coming days.

Copper prices in India slipped for the fifth straight day and are now trading at Rs.762.8 per K.G. in the MCX futures on June 14, 2022. On the other hand, Copper Scrap prices in India are declining for more than two weeks and are now trading at,

Copper Cable Scrap Prices (Mumbai): Rs.762/KG

Copper Heavy Scrap Prices (Mumbai): Rs.752/KG

Copper Utensil Scrap Prices (Mumbai): Rs.680/KG

Copper Wire Scrap Prices (Delhi): Rs.696/KG

Hunny Yellow Scrap Prices (Jamnagar): Rs.516/KG

Brass Hunny Scrap Prices (Jamnagar): Rs.500/KG

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Category : General

Tags : Copper, Copper Prices, Copper Scrap, Copper Scrap Prices, Copper Scrap Price Forecast US & Canada, Copper Scrap Price Predictions US And Canada


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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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