"Copper Base Metal" is regarded as a leading indicator of the global economy, with rising Copper prices denoting strong economic growth and declining Copper prices suggesting weak economic growth.
Because of the current global economic slowdown, investors are at a riskier approach to determining the right pricing for Copper Scraps and are in a difficult position to decide when to invest in this industry.
To find a solution, our RIM researchers forecasted Copper Scrap prices in India for June 20, 2022, by examining the correspondence between Copper prices and Copper Scrap pricing. Linear Regression and Granger's Causality models were used to forecast Copper Scrap prices.
Copper Scrap price forecasting would help Copper Scrap traders, investors, and recyclers determine the right time to buy or sell Copper Scraps at better profits.
Copper Scrap Price Forecast for June 20, 2022, in INDIA
| Copper Scrap | Predicted Price |
| Hunny Yellow (Jamnagar) | ₹ 517.57 |
| Brass Hunny (Jamnagar) | ₹ 498.11 |
| Copper Utensil (Mumbai) | ₹ 682.30 |
| Copper Heavy (Mumbai) | ₹ 749.53 |
| Copper Wire (Delhi) | ₹ 701.62 |
Graphical Representation of MCX Copper Base Metal Price (INDIA)
.png)
Copper prices in India are trading at Rs.748.7 per KG on June 17, 2022, which is 1.50% down from the previous close price.
Copper prices on Friday dropped amid global economic recession about slowing demand concerns from top metal consumer China re-imposed COVID-19 lockdowns in Shanghai.
The Federal Reserve of the United States approved the largest interest rate hike since 1994 on Wednesday, raising the target federal funds rate by 75 basis points and putting downward pressure on Copper prices.
The new lockdowns in China, high inflation, rising interest rates, and a strong dollar index pushed Copper prices to lower levels.
Meanwhile, despite weak global demand growth, Copper prices are supported by low stocks in LME-approved warehouses. On the other hand, mine supply for Copper Base Metal is improving, as the strike in the leading Copper mines in Chile and Peru has ended, and workers have resumed normal operations.
As the supply side issues for Copper Base Metal vanish, the demand side issues worsen, causing Copper prices to fall. Copper prices are expected to fluctuate and trade lower than before unless supply-demand issues are resolved.
Copper Scrap prices in India are now trading at,
Copper Cable Scrap Prices (Mumbai): Rs.761/KG
Copper Heavy Scrap Prices (Mumbai): Rs.747/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
Daily Scrap Prices is also now accessible on WhatsApp; sign up now to know about Copper Scrap Prices in seconds.
Latest Copper Scrap Offers at RIM
Copper Scrap Sell Offer
Exporting "Copper Millberry Wire Scrap" - 1000 MT
Copper Scrap Buy Offer
Looking for "Copper Millberry Wire Scrap"