India Aluminium Scrap prices continue to remain stable; Aluminium Futures edge up
MUMBAI (Scrap Register): India major Aluminium scrap prices continued to remain stable on the Scrap Register Price Index as on Tuesday, while Aluminium futures prices at India's Multi Commodity Exchange fell on speculation China may sustain supply cuts after winter production curbs expire in two days.
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 steady trend on the Scrap Register Price Index as on Tuesday.
The most active March aluminium contract on India’s Multi Commodity Exchange edged up by 0.04 percent to Rs. 135.55 per kilogram on Tuesday from previous close of 135.50 a kilogram. The MXC aluminium prices touched an intra-day high of Rs. 136.15 per kilogram and an intra-day low of Rs. 134.65 a kilogram during Tuesday.
China ordered smelters in 28 northern cities to cut aluminium output by at least 30 per cent from mid-November to mid-March as part of an anti-pollution campaign.
(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)