Scrap glossary
What is MCX copper price?
MCX is the Multi Commodity Exchange of India, where copper and other metals are traded in Indian rupees. Many people in South Asia search for the MCX copper price, but it reflects the Indian market, not Pakistan's.
MCX copper broadly follows the LME price converted to Indian rupees, plus local duties and costs.
For Pakistan, the more useful references are the LME price, the dollar to rupee rate and the rates local dealers are paying, which you can see on the copper rate page.
Do not convert an MCX price directly into Pakistani rupees to judge a scrap offer; scrap grades and local costs make the real price different.
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