India Aluminium Scrap prices flat; Aluminium Futures fall
MUMBAI (Scrap Register): India major Aluminium scrap prices showed a flat trend on the Scrap Register Price Index as on Thursday, while aluminium futures prices at India's Multi Commodity Exchange fell on fresh selling tracking the weakness in Equity markets which were locked in a sharp sell-off with concern around how far yields will rise and warnings from the IMF about financial stability risks and continued trade tension all driving uncertainty.
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 and aluminium utensil scrap showed a flat trend on the Scrap Register Price Index as on Thursday.
The most active October aluminium contract on the Multi Commodity Exchange dropped by 1.32 percent to Rs. 149.80 per kilogram on Thursday from previous close of Rs. 151.80 a kilogram. The MXC aluminium prices touched an intra-day high of Rs. 151.75 per kilogram and an intra-day low of Rs. 149.60 a kilogram during Thursday.
India’s aluminium makers are looking to ramp up their volumes of exports shipments amid unabated imports of scrap and some finished downstream products.
(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)