In line with global heat over the Escondida strike, the price of copper wire bar in the domestic market has risen by a marginal Rs 7 to Rs 423 a kg in the last five days. | |
| Copper scrap too moved in a very thin range, with no changes in most varieties and an increase of just Re 1 in copper light scrap that closed today at Rs 361 a kg. Copper cable scrap, heavy scrap, utensil scrap and sheet cutting rebounded at Rs 390, Rs 380, Rs 330 and Rs 355 a kg, respectively. |
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| "Domestic copper prices always move in tandem with international prices. This time, too, the upsurge in international prices has impacted virgin copper "� but not scrap. This indicates that the demand for copper scrap for re-melting continues to shoot up unabated in the domestic market," said Surendra Mardia, senior vice-president, Bombay Metal Exchange (BME). |
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