India major Aluminium Scrap prices remain stable; MCX Aluminium slightly up

INDIA July 25 2016 11:21 AM

MUMBAI (Scrap Register): India major aluminium scrap commodities prices remained stable on Friday, while aluminium futures prices at Multi Commodity Exchange settled up as industrial consumers took advantage of recent declines to make purchases.

The major aluminium scrap commodities showed a flat trend during 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 stable on Friday.

The most active July aluminium contract on Multi Commodity Exchange settled slightly up by 0.56% to Rs. 107.45 per kilogram on Friday from previous close of Rs. 106.85 per kilogram. The MXC aluminium prices touched an intra-day high of Rs. 107.95 per kilogram and an intra-day low of Rs. 106.35 per kilogram during Friday. 

Aluminium prices at London Metal Exchange swam against the tide, ending 0.7 percent firmer at $1,611 a ton as consumers went bargain-hunting after prices pulled back from a one-year peak of $1,703 last Friday.