By analyzing the correlation between Copper prices and Copper Scrap prices, using Linear Regression & Granger's Causality research models, our RIM research team forecasted Copper Scrap prices in India for June 17, 2022.
Copper Scrap price forecasting probably benefits Copper Scrap investors/traders to keep abreast of the market and better understand the fluctuations in the prices induced by supply and demand factors. Meanwhile, learning Copper Scrap price forecasting guides Copper Scrap traders and recyclers in determining the correct pricing to buy or sell Copper Scraps for the highest possible price.
Copper Scrap Prices Forecast for June 17, 22 in India
| Copper Scrap | Predicted Price |
| Hunny Yellow (Jamnagar) | ₹ 522.61 |
| Brass Hunny (Jamnagar) | ₹ 505.31 |
| Copper Utensil (Mumbai) | ₹ 692.13 |
| Copper Heavy (Mumbai) | ₹ 760.49 |
| Copper Wire (Delhi) | ₹ 710.80 |
Graphical Representation of MCX Copper Base Metal Price (INDIA)
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Copper Scrap prices in India are declining for the third week due to the global bearish scrap metals demand outlook, especially in China.
Copper Prices:
Copper prices climbed to a five-week high of Rs.807 per Kg on June 03, 2022, as tightening demand-supply concerns in Shanghai's reopening from Covid-19 lockdown.
And now, Copper prices have declined more than a week by around 6.54% from the recent price hike because of new Covid limitations in China as new Covid cases have been found in the major cities.
The US dollar index is still firmer, making greenback-denominated metals more expensive for buyers using other currencies, adding extra pressure on Copper pricing.
Meanwhile, the leading Copper mines in Chile and Peru ended their long-term, i.e. 50 days of protest and resumed the normal operations right from this week. So, it is expected that Copper supply from mines will support Copper prices in the coming days.
Copper prices in India are trading at Rs.757.45 per KG on June 15, 2022, in the MCX futures, which is 0.70% lower than the previous settlement price.
As of Today, Copper Scrap prices in India are trading at,
Copper Cable Scrap Prices (Mumbai): Rs.761/KG
Copper Heavy Scrap Prices (Mumbai): Rs.752/KG
Copper Utensil Scrap Prices (Mumbai): Rs.685/KG
Copper Wire Scrap Prices (Delhi): Rs.694/KG
Hunny Yellow Scrap Prices (Jamnagar): Rs.514/KG
Brass Hunny Scrap Prices (Jamnagar): Rs.498/KG
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