INDIA September 23 2015 4:50 PM

MUMBAI (Scrap Register): India major aluminium scrap commodities prices dropped on Tuesday in line with aluminium futures prices at India's Multi Commodity Exchange, amid renewed concern over slowing economic growth in China.

The major aluminium scrap commodities dropped on Scrap Register Price Index as on Tuesday. India's major scrap commodities like aluminium rod company, aluminium rod local, aluminium sheet cutting, aluminium utensil scrap, aluminium wire scrap traded down on Tuesday.

The most active September aluminium contract on Multi Commodity Exchange settled down by 1.6% to Rs. 104.35 per kilogram on Tuesday from previous close of Rs. 106.05 per kilogram.


The MXC aluminium prices touched an intra-day high of Rs. 106 per kilogram and an intra-day low of Rs. 104.30 per kilogram during Tuesday. The open interest of the contract stood at 2906 lots.

US dollar surged, weighing down commodity prices. Meanwhile, investors showed concerns over China’s Caixin manufacturing PMI number due out Wednesday. US dollar grows and market players show concerns over downturn in global economy.