India Aluminium Scrap prices climb; Aluminium Futures settle slightly down


MUMBAI (Scrap Register): India's major aluminium scrap commodities prices climbed on Monday, while aluminium futures prices at Multi Commodity Exchange settled slightly down.

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The major aluminium scrap commodities on the Scrap Register Price Index showed an up trend on Monday. India's major aluminium scrap commodities like aluminium accessories scrap, aluminium sheet cutting and aluminium wire scrap traded higher on Monday.

The most active March aluminium contract on Multi Commodity Exchange down by 0.83 percent to Rs. 125.10 per kilogram on Monday from previous close of Rs. 126.15 per kilogram. The MXC aluminium prices touched an intra-day high of Rs. 125.80 per kilogram and an intra-day low of Rs. 124.10 per kilogram during Monday.

In addition, inventories of aluminum ingot in China’s five major trading markets climbed above 1 million mt as of now. The inventories in the five markets, namely Shanghai, Wuxi, Hangzhou, Gongyi, and Nanhai, grew for 9 weeks in a row, and the level of inventories in those regions have been far higher than the level seen the same period of last year.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

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