INDIA April 27 2017 6:20 PM
NEW DELHI (Scrap Register): India major aluminium scrap commodities prices stayed steady on Wednesday in line with aluminium futures prices at Multi Commodity Exchange.
India's major aluminium scrap commodities like aluminium accessories scrap, aluminium cable scrap , aluminium ingots, aluminium rod company, aluminium rod local, aluminium scrap 6063 and aluminium scrap taint/tabor stayed stable on Wednesday.
The most active April aluminium contract on Multi Commodity Exchange ended flat at Rs. 125.60 per kilogram on Wednesday from previous close. The MXC aluminium prices touched an intra-day high of Rs. 125.70 per kilogram and an intra-day low of Rs. 124.50 per kilogram during Wednesday.
Aluminium Futures settled flat while prices look the strongest as they have retreated the least in recent weeks, while the rest have pulled back quite far – the pullbacks could be consolidation after the strong gains seen in the fourth quarter last year.
China, the world's top aluminium producer, is seriously concerned by the U.S. probe into imports of the light metal and hopes to resolve the dispute through talks, Commerce Ministry spokesman Sun Jiwen said at a regular briefing on Thursday.
The U.S. Commerce Department launched an investigation on Wednesday to determine whether a flood of aluminium imports from China and elsewhere was compromising U.S. national security, Washington's second such move in a week aimed at metals trade.