India Aluminium scrap prices steady; Aluminium Futures decline


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 declined on escalating trade wars and the perceived risks to global growth and demand.

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, aluminium wire scrap showed a flat trend on the Scrap Register Price Index as on Friday.

The most active August aluminium contract on the Multi Commodity Exchange has declined by 0.91 percent to Rs. 139.35 per kilogram on Friday from previous close of Rs. 139.40 a kilogram. The MXC aluminium prices touched an intra-day high of Rs. 140.75 per kilogram and an intra-day low of Rs. 138.40 a kilogram during Friday.

China accused the United States of bullying and warned it would hit back after the Trump administration raised the stakes in their trade dispute, threatening 10 percent tariffs on $200 billion of Chinese goods.

(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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