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India Aluminium scrap prices fall; Aluminium Futures up

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MUMBAI (Scrap Register): India major Aluminium scrap prices fell on the Scrap Register Price Index as on Wednesday, while Aluminium futures prices at India's Multi Commodity Exchange settled higher as United Company Rusal resumed aluminium shipping.

India's major Aluminium scrap commodities prices including aluminium accessories scrap, aluminium ingots, aluminium sheet cutting, aluminium utensil scrap and aluminium wire scrap showed a down trend on the Scrap Register Price Index as on Wednesday.

The most active May aluminium contract on the India’s Multi Commodity Exchange fell by 0.71 percent to Rs. 155.15 per kilogram on Wednesday from previous close of Rs. 154.05 a kilogram. The MXC aluminium prices touched an intra-day high of Rs. 155.50 per kilogram and an intra-day low of Rs. 153.10 a kilogram during Wednesday.

United Company Rusal resumed shipping aluminium to some customers last week following an extension of the deadline for companies to wind down contracts with the Russian firm under U.S. sanctions, sources said.

(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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