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Indian Copper Scrap Price Predictions (August-22-22)

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by - 8/19/2022 508 Views

Copper Scrap prices in India rebounded on improving demand growth from the world's top scrap metals & base metals consumer "China."

Using Linear Regression and Granger's Causality research models, our RIM researchers forecasted Copper Scrap prices in India for August 22, 2022, after understanding the correlation between Copper prices and Copper Scrap Prices.

Copper Scrap price forecasting highly benefits the Copper Scrap trading/recycling industry to know when necessary Copper Scrap price increases or decreases based on various factors influencing Copper prices.

Also, knowing Copper Scrap price predictions helps Copper Scrap investors and traders to determine the right time to buy or sell Copper Scrap at maximum profits.

Copper Scrap Prices Forecast for August 22, 2022, in INDIA

Copper Scrap Predicted Price
Hunny Yellow (Jamnagar) ₹ 494.52
Brass Hunny (Jamnagar) ₹ 470.78
Copper Utensil (Mumbai) ₹ 610.36
Copper Heavy (Mumbai) ₹ 668.35
Copper Wire (Delhi) ₹ 632.99

Graphical Representation of MCX Copper Base Metal Price (INDIA)

Indian Copper Scrap Price Predictions (August-22-22)

Is Copper Scrap Prices Stopped Falling & Indicating A Positive Trend Now?

Copper Scrap prices in India (Delhi) are significantly high as the strengthening demand outlook from the top scrap metals and base metals consumer "China."

Previously, Copper Scrap prices fell to multi-year lows in mid-July on increasing economic slowdown and interest rate hikes in major central banks. Since then, Copper Scrap prices have stopped falling and have rebounded to 5-week highs of Rs.642/KG.

Copper Scrap's demand and supply were tight now because the price difference between Copper Base Metals and Copper Scrap failed to narrow due to an unexpected Copper price hike to 5-week highs.

Generally, the rise and fall of Copper Scrap prices are closely related to Copper pricing. As Copper prices continue to rise, the price increase in Copper Scrap is expected to exceed.

While I write this article, Copper Scrap prices in India are trading at,

Copper Cable Scrap Prices (Mumbai): Rs.663/KG

Copper Heavy Scrap Prices (Mumbai): Rs.657/KG

Copper Utensil Scrap Prices (Mumbai): Rs.600/KG

Copper Wire Scrap Prices (Delhi): Rs.626/KG

Hunny Yellow Scrap Prices (Jamnagar): Rs.494/KG

Brass Hunny Scrap Prices (Jamnagar): Rs.478/KG

Daily Scrap Prices are now accessible on WhatsApp; sign up now to receive daily Copper Scrap Prices in seconds via WhatsApp.

Copper Prices Get A Boost From Improving Chinese Import & Demand Data

Copper prices in India heighten and are now trading at Rs.670.2/KG (August-19-22) in the MCX futures, which is 1.43% or Rs.9.45 higher than the previous closing price.

Copper prices rose on Friday, hoping to grow demand outlook from China amid fears of upcoming interest rate hikes from the major central banks. Copper prices are closing this week with a positive trend amid slower economic growth globally.

Meanwhile, China's central bank has cut monetary policies, and investors are concerned about the Chinese economy, which may influence Copper prices in the upcoming days. On the other hand, Chinese Copper inventories are limited now, and import premiums are high, implying rising demand.

According to statistics, Yangshan Copper import premiums have risen to $102.50 a tonne, the highest since December. Copper inventory in major Chinese markets fell 400 mt from the previous Friday to 70,300 mt. The total inventory decreased by 89,400 mt compared to the same period last year, and the inventory was 159,700 mt.

On the other hand, there is fear about the major central banks, including the US and Europe, the announcement of further interest rate hikes in the coming days, which is expected to affect the global economy and may push Copper prices down.

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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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