India Aluminium Scrap prices show almost flat; MCX Aluminium inches down

INDIA July 18 2016 2:24 PM     

MUMBAI (Scrap Register): India  major aluminium scrap commodities prices showed almost a flat trend on Friday,  while aluminium futures prices at Multi Commodity Exchange settled lower  tracking after stronger than expected U.S. economic data after LME closed down  1.4 percent at $1,659 after hitting $1,703, the strongest since July 17 last  year.

The major aluminium scrap commodities remained flat on Scrap  Register Price Index as on Friday. India's major scrap commodities like  aluminium cable scrap, aluminium ingots, aluminium rod company, aluminium rod  local, aluminium scrap 6063, aluminium scrap taint/tabor, aluminium sheet  cutting, aluminium utensil scrap and aluminium wire scrap remained flat on  Friday.

The most active July aluminium contract on  Multi Commodity Exchange settled slightly down by 0.58% to Rs. 111.45 per  kilogram on Friday from previous close of Rs. 112.10 per kilogram. The MXC  aluminium prices touched an intra-day high of Rs. 113.55 per kilogram and an  intra-day low of Rs. 111.15 per kilogram during Friday.

China's economy  expanded slightly faster than expected in the second quarter but private  investment growth shrank to a record low, suggesting future weakness which could  pressure the government to roll out more support measures.