Home / Metal News / India Aluminium Scrap prices gain; MCX Aluminium settles lower

India Aluminium Scrap prices gain; MCX Aluminium settles lower

iconJan 21, 2016 17:58
Source:SMM
India major aluminium scrap commodities prices gained on Wednesday, while aluminium futures prices at India's Multi Commodity Exchange.

INDIA January 21 2016 12:50 PM

MUMBAI (Scrap Register): India major aluminium scrap commodities prices gained on Wednesday, while aluminium futures prices at India's Multi Commodity Exchange settled lower as pressure seen after Citi cut its 2016 aluminium forecast to $1,435 a ton. It expects Chinese aluminium product exports will continue to weigh on the market this year.

The major aluminium scrap commodities dropped on Scrap Register Price Index as on Wednesday. India's major scrap commodities like Aluminium Accessories scrap, Aluminium ingots, Aluminium Rod Company and Aluminium Rod Local traded up on Wednesday. 

However, the most active January aluminium contract on Multi Commodity Exchange settled up by 0.69% to Rs. 100.15 per kilogram on Wednesday from previous close of Rs. 100.85 per kilogram. The MXC aluminium prices touched an intra-day high of Rs. 100.90 per kilogram and an intra-day low of Rs. 99.95 per kilogram during Wednesday.

While on the contra Aluminium prices are unlikely to continue to decline, Oleg Deripaska, president of Russian aluminium giant Rusal, told Rossiya 24 television on Wednesday. 

Meanwhile yesterday all other basemetals dropped amid another slide in oil prices and worries about growth in top metals user China, though losses were limited by hopes Beijing would unveil more stimulus measures.


aluminium scrap commodities prices

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news

SMM Events & Webinars

All