India Aluminium Scrap prices remain flat; MCX Aluminium settles slightly up

INDIA February 15 2016 3:36 PM     

MUMBAI (Scrap Register): India  major aluminium scrap commodities prices remained flat on Friday, while  aluminium futures prices at Multi Commodity Exchange settled slightly higher  boosted by the expectations of dovish comments from a senior U.S. Federal  Reserve official but gains were limited by the continuing concerns for the  global economy.

The major aluminium scrap commodities dropped on Scrap  Register Price Index as on Friday. 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 were remained flat on Friday.

The most active February aluminium contract  on Multi Commodity Exchange settled slightly up by 0.50% to Rs. 102.60 per  kilogram on Friday from previous close of Rs. 102.10 per kilogram. The MXC  aluminium prices touched an intra-day high of Rs. 102.85 per kilogram and an  intra-day low of Rs. 101.90 per kilogram during Friday.

Global growth  concerns have been aggravated by large losses in bank shares, the potential for  a financial crisis and worries about the U.S. Federal Reserve raising rates  despite signs of economic slowdown in the United States.