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Indian Copper Scrap Price Forecast (Sept-22-22)

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by - 9/20/2022 486 Views

Copper Scrap prices in India are relatively lower as the market anticipates interest rate hikes by multiple central banks, particularly the US Federal Reserve.

Generally, our Copper Scrap price forecasting is very effective. It assists investors in staying abreast of the market, helping them move at the right time to maximise gains and pare losses.

Our RIM research team has been forecasting Copper Scrap prices in India with the help of AI and linear regression research models for several months. Our analysis was very accurate, and we predicted Copper Scrap prices in India with a 0.5 to 3% difference.

Effective Copper Scrap price predictions will help Copper Scrap traders/investors better decide when to invest in this commodity.

Copper Scrap Price Forecast in India September 22, 2022

Copper Scrap Predicted Price
Hunny Yellow (Jamnagar) ₹ 491.07
Brass Hunny (Jamnagar) ₹ 467.17
Copper Utensil (Mumbai) ₹ 590.89
Copper Heavy (Mumbai) ₹ 646.03
Copper Wire (Delhi) ₹ 614.35

Graphical Representation of MCX Copper Base Metal Price (INDIA)

Indian Copper Scrap Price Forecast (Sept-22-22)

Copper Scrap Prices Fluctuating On Fears Over Central Bank's Higher Interest Rate

Copper Scrap prices in India are trading sideways on fears of multiple central banks' upcoming interest rate hikes, especially the US Federal Reserve of 75 to 100 basis points. Investors suggest the upcoming interest rate hike would dampen the global economic outlook and weaken the demand for Copper Scrap and Copper Base Metals.

Previously, last month, the bank's chairman, Jerome Powell, announced an interest rate of 75 basis points, and he also stated that the US Fed would raise interest rates again in the coming days to combat inflation. According to his words, investors anticipate an interest rate hike sooner (probably this week).

Since this month, Copper Scrap demand has been dampened by slower economic activity, higher energy costs, and interest rate hikes, causing Copper Scrap prices to fall even further. As of today, Copper Scrap prices in India are trading at

Copper Cable Scrap Prices (Mumbai): Rs.650/KG

Copper Heavy Scrap Prices (Mumbai): Rs.645/KG

Copper Utensil Scrap Prices (Mumbai): Rs.585/KG

Copper Wire Scrap Prices (Delhi): Rs.614/KG

Hunny Yellow Scrap Prices (Jamnagar): Rs.481/KG

Brass Hunny Scrap Prices (Jamnagar): Rs.465/KG

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Meanwhile, Copper prices in India (MCX Futures) are trading at Rs.652.55/KG on September 20, 2022, which is 0.35% up from the previous settlement price.

Copper prices rose slightly on Tuesday, supported by a lower US dollar index, making the greenback-priced metal cheaper for holders using other currencies amid a bleak demand outlook.

Meanwhile, the slower momentum in Copper prices is because of weaker demand growth from the top base metals consumer, China. Also, new covid outbreaks in Guangzhou and Shenzhen led governments to enforce lockdowns, adding concerns of lower economic activity in China.

On the other hand, investors predict that dampened demand and slower global activities will further push Copper prices to lower levels than ever before. "Weakening investor sentiment and falling demand in light of slower global growth put downward pressures on prices," Fitch Solutions said in a note.

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Category : General

Tags : Copper, Copper Prices, Copper Scrap, Copper Scrap Prices, Indian Copper Scrap Price Forecast, 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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