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India Aluminium scrap prices flat as Indian rupee hits all time low

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MUMBAI (Scrap Register): India major Aluminium scrap prices showed a flat trend on the Scrap Register Price Index as on Monday, while aluminium futures prices at India's Multi Commodity Exchange advanced as Indian rupee hit an all time low.

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

The most active August aluminium contract on the Multi Commodity Exchange has advanced by 1.25 percent to Rs. 145.55 per kilogram on Monday from previous close of Rs. 143.75 a kilogram. The MXC aluminium prices touched an intra-day high of Rs. 146.00 per kilogram and an intra-day low of Rs. 143.80 a kilogram during Monday.

Indian Rupee slumped to a fresh record low on Monday, just 7 paise away from hitting 70 a dollar mark as emerging markets weakened amid concern over the risk of contagion from Turkey’s financial-market turmoil.

(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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