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.
