India Aluminium Scrap prices stay flat; Aluminium Futures decline 1.55%

INDIA March 09 2016 4:20 PM     

MUMBAI (Scrap Register): India  major aluminium scrap commodities prices stayed flat on Tuesday, while aluminium  futures prices at Multi Commodity Exchange settled lower as pressure seen after  rise in LME stocks and as China’s exports of aluminium reflected slow activities  at factories in the holiday month.

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 were remained flat on Tuesday.

The most active March aluminium contract on  Multi Commodity Exchange settled slightly up by 1.55% to Rs. 105.75 per kilogram  on Tuesday from previous close of Rs. 107.40 per kilogram. The MXC aluminium  prices touched an intra-day high of Rs. 108 per kilogram and an intra-day low of  Rs. 105.15 per kilogram during Tuesday.

Primary aluminium, alloy and  semi-finished aluminium products dived 26.3 percent from January to 280,000 tons  in February. Aluminium exports dropped 33.3 percent versus a year ago, in the  first two months, the outflow fell 22.3 percent year-on-year to 670,000  tons.