India Aluminium Scrap prices flat; Aluminium Futures edge up
MUMBAI (Scrap Register): India major Aluminium scrap prices remained flat on the Scrap Register Price Index as on Friday, while Aluminium futures prices at India's Multi Commodity Exchange edged up as trader feel to stay away ahead of U.S. tariffs uncertainty.
India's major aluminium scrap commodities prices including aluminium accessories scrap, aluminium cable scrap, aluminium rod company, aluminium rod local, aluminium scrap 6063, aluminium scrap taint/tabor, aluminium sheet cutting and aluminium wire scrap showed a flat trend on the Scrap Register Price Index as on Friday.
The most active March aluminium contract on India’s Multi Commodity Exchange edged up by 0.37 percent to Rs. 137.40 per kilogram on Friday from previous close of 136.90 a kilogram. The MXC aluminium prices touched an intra-day high of Rs. 138.30 per kilogram and an intra-day low of Rs. 135.90 a kilogram during Friday.
China will continue to cut aluminium capacity this year, official from country's top economic planner said.
Japan's aluminium industry called for the U.S. to withdraw new import tariffs on aluminium as it is deeply worried the U.S. move will not affect only the industry, but also global trade, an industry association said.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to firstname.lastname@example.org)