India Aluminium scrap prices steady; MCX Aluminium falls in line with LME Aluminium
MUMBAI (Scrap Register): India major Aluminium scrap prices showed a steady trend on the Scrap Register Price Index as on Wednesday, while Aluminium futures prices at India's Multi Commodity Exchange fell in line with Aluminium futures prices at London Metal Exchange.
India's major Aluminium scrap commodities prices including aluminium accessories scrap, aluminium ingots, aluminium sheet cutting, aluminium utensil scrap and aluminium wire scrap remained flat on the Scrap Register Price Index as on Wednesday.
The most active May aluminium contract on the India’s Multi Commodity Exchange fell by 0.56 percent to Rs. 158.60 per kilogram on Wednesday from previous close of Rs. 159.50 a kilogram. The MXC aluminium prices touched an intra-day high of Rs. 159.65 per kilogram and an intra-day low of Rs. 158.15 a kilogram during Wednesday.
On April 23 the U.S. Treasury eased restrictions on billionaire Oleg Deripaska’s aluminium company Rusal. Instead of barring Rusal from international markets, which is what the United States originally intended, the Treasury suggested it might lift the sanctions altogether.
The United States is seeking a trade deal with China, White House economic adviser Larry Kudlow said as bilateral talks between the world’s two economic powerhouses resume in Washington this week.