INDIA March 16 2017 3:33 PM

MUMBAI (Scrap Register): India's major aluminium scrap commodities prices remained flat on Wednesday, while aluminium futures prices at Multi Commodity Exchange edged up tracking the uptrend from Aluminium prices at the London Metal Exchange.

The major aluminium scrap commodities on the Scrap Register Price Index showed a down trend on Wednesday. India's major aluminium scrap commodities like aluminium accessories scrap, 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 traded lower on Wednesday. 

The most active March aluminium contract on Multi Commodity Exchange down by 0.82 percent to Rs. 123.30 per kilogram on Thursday from previous close of Rs. 122.30 per kilogram. The MXC aluminium prices touched an intra-day high of Rs. 123.40 per kilogram and an intra-day low of Rs. 121.90 per kilogram during Thursday.

As expected, the Federal Reserve raised its benchmark interest rate in response to the improving economy. The Fed has lifted its target rate by a quarter point to a range of 0.75% to 1%.Earlier this month, Fed Chair Janet Yellen telegraphed today's action by saying the Fed would raise rates barring any unpleasant economic surprises.