India Aluminium Scrap prices remain flat; Aluminium Futures down 1.3 percent

INDIA May 31 2017 5:50 PM
NEW DELHI (Scrap Register): Major aluminium scrap commodities prices in India remained flat on the Scrap Register Price Index as on Tuesday, while aluminium futures prices at Multi Commodity Exchange ended down as China increases production in the third quarter. 

India's major aluminium scrap commodities like 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 and aluminium wire scrap remained stable on the Scrap Register Price Index as on Tuesday.

The most active May aluminium contract on Multi Commodity Exchange settled down by 1.31% Rs. 124.30 per kilogram on Tuesday from previous close of 125.95 per kilogram. The MXC aluminium prices touched an intra-day high of Rs. 126.35 per kilogram and an intra-day low of Rs. 123.60 per kilogram during Tuesday.

Global aluminium producer has offered Japanese buyers a premium of $123 per ton for July-September primary metal shipments, down 4 percent from the current quarter, four sources directly involved in pricing talks said on Monday. 

Another seller has sought premiums of $128 a ton, flat to the price for shipments over April-June. Japan is Asia's biggest aluminium importer and the premiums for primary metal shipments it agrees to pay each quarter over the LME cash price set the benchmark for the region.