India Aluminium Scrap prices stay flat; Aluminium Futures edge up

INDIA February 09 2017 5:29 PM

MUMBAI (Scrap Register): Major aluminium scrap commodities prices in India continued to remain stable on Wednesday, while aluminium futures prices at Multi Commodity Exchange settled higher mainly due the ongoing battle against pollution in China could lead to production cuts.

China is supposedly closing around a third of aluminum capacity in the provinces of Shandong, Henan, Hebei and Shanxi over the winter months to help reduce emissions.

The major aluminium scrap commodities on the Scrap Register Price Index stayed steady on Wednesday. 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 showed a flat trend on Wednesday.

The most active February aluminium contract on Multi Commodity Exchange edged up by 0.37 percent to Rs. 123.20 per kilogram on Wednesday from previous close of Rs. 122.75 per kilogram. The MXC aluminium prices touched an intra-day high of Rs. 123.90 per kilogram and an intra-day low of Rs. 122.70 per kilogram during Tuesday.