Copper prices remain week following low demand, global cues
Copper is known as a red metal and it’s believed to be the first metal and most widely used on the planet Earth. This unique metal also known as industrial metal which can establish the state of economic growth in the given country.
The copper price recently fell on negative sentiment pointing investors toward slowing global growth. The journey of copper in Q3 hasn’t been appealing one. This red metal posted a sharp drop in the Q3 following the yearly high in Q2.
Copper recorded the highest point for the quarter at US$6,594.5 on July 2 and with in 18 days it’s fell down below the US$6,000 a ton mark on the LME. US$5,822 was the lowest point seen on September 4, some 11.58 percent below where it started for the quarter.
After hitting one-year low, it lifted itself back up again as fears of the factual influence of the trade war ebbed and flowed through the markets, but from September 18 onwards (and into October) copper has been back up above US$6,000.
Meanwhile, copper for delivery in three-month fell 0.16 per cent to USD 6200.0 per metric tonne on the London Metal Exchange.
In RecycleinME.com daily index, copper scrap price drifted down by 0.23 % per kg at the non-ferrous metal market on Friday 10, 2018. This is due to slackened demand from consuming industries amid weak trend overseas.
In the national capital, Copper Mixed Scrap Prices fell Rs 1kg and ended at INR 427/kg and Copper Wire Scrap Prices dropped to INR 452 from INR 453/kg.
Get daily scrap prices at https://www.recycleinme.com/scrapresources/india_scrap_prices
The copper price recently fell on negative sentiment pointing investors toward slowing global growth. The journey of copper in Q3 hasn’t been appealing one. This red metal posted a sharp drop in the Q3 following the yearly high in Q2.
Copper recorded the highest point for the quarter at US$6,594.5 on July 2 and with in 18 days it’s fell down below the US$6,000 a ton mark on the LME. US$5,822 was the lowest point seen on September 4, some 11.58 percent below where it started for the quarter.
After hitting one-year low, it lifted itself back up again as fears of the factual influence of the trade war ebbed and flowed through the markets, but from September 18 onwards (and into October) copper has been back up above US$6,000.
Meanwhile, copper for delivery in three-month fell 0.16 per cent to USD 6200.0 per metric tonne on the London Metal Exchange.
In RecycleinME.com daily index, copper scrap price drifted down by 0.23 % per kg at the non-ferrous metal market on Friday 10, 2018. This is due to slackened demand from consuming industries amid weak trend overseas.
In the national capital, Copper Mixed Scrap Prices fell Rs 1kg and ended at INR 427/kg and Copper Wire Scrap Prices dropped to INR 452 from INR 453/kg.
Get daily scrap prices at https://www.recycleinme.com/scrapresources/india_scrap_prices
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