India Aluminium Scrap prices remain stable; Aluminium Futures settle below Rs. 100/kg

INDIA January 06 2016 3:45 PM     

MUMBAI (Scrap Register): India  major aluminium scrap commodities prices remained stable on Tuesday, while  aluminium futures prices at India's Multi Commodity Exchange settled lower as  sentiment remained shaky over top consumer China's economy following slowing  factory growth figures for December.

The major aluminium scrap  commodities stayed flat on Scrap Register Price Index as on Tuesday. India's  major scrap commodities like aluminium accessories scrap, aluminium ingots,  aluminium rod company, aluminium rod local, aluminium sheet cutting, aluminium  utensil scrap and aluminium wire scrap remained stable on Tuesday.

The most active January  aluminium contract on Multi Commodity Exchange settled down by 1.19% to Rs.  98.30 per kilogram on Tuesday from previous close of Rs. 98.85 per kilogram. The  MXC aluminium prices touched an intra-day high of Rs. 100.10 per kilogram and an  intra-day low of Rs. 98.05 per kilogram during Tuesday.

In London Metal  Exchange, last week Aluminum was traded in range though still jumping a bit  compared to the previous session’s end price, settling at $1,528 a ton, as the  news that revealed that inventories as well as cancelled warrants declined 5,675  tonnes to 2,895,525 tons and 1,097,750 tons respectively, which supported prices  going up at the LME.