Domestic copper prices increased by up to 1.3% today. Armature scrap prices stood at INR 715,000/t and secondary rods prices were at INR 760,000/t both ex-Delhi as futures prices were high: LME 3-month prices hit a 11-month high of over $9,000/t, and SHFE prices rose despite increase in inventories. Few smelters in China are deciding to cut production, as per sources.
