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India Aluminium Scrap prices steady; Aluminium Futures down 2.21 percent

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MUMBAI (Scrap Register): India’s major aluminium scrap commodities prices showed a flat on the Scrap Register Price Index as on Friday, while aluminium futures prices at India's Multi Commodity Exchange ended down as stock markets extended the week’s sharp slide.

India's major aluminium scrap commodities prices including aluminium accessories scrap, aluminium cable scrap, aluminium ingots, aluminium rod company, aluminium rod local, aluminium scrap 6063, aluminium scrap taint/tabor, aluminium sheet cutting, aluminium utensil scrap and aluminium wire scrap showed a steady trend on the Scrap Register Price Index as on Friday.

The most active February aluminium contract on India’s Multi Commodity Exchange settled down by 2.21 percent to Rs. 137.10 per kilogram on Friday from previous close 140.20 a kilogram. The MXC aluminium prices touched an intra-day high of Rs. 139.75 per kilogram and an intra-day low of Rs. 136.80 a kilogram during Friday.

U.S. aluminum foil producers described a systematic effort by Chinese competitors to force them out of the business, arguing before a U.S. trade panel that they need anti-dumping duties to survive and invest.

At a hearing before the U.S. International Trade Commission, aluminum industry executives argued that preliminary anti-dumping and anti-subsidy duties against Chinese foil should be locked in place to allow an industry “devastated” by unfairly low prices to regain its footing.

(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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