NEW DELHI (Scrap Register): India major aluminium scrap commodities prices continued to remain flat on Tuesday, while aluminium futures prices at Multi Commodity Exchange settled slightly down at Rs. 123.75 per kilogram.
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 flat on Tuesday.
The most active May aluminium contract on Multi Commodity Exchange ended slightly down by 0.04 to Rs. 123.75 per kilogram on Tuesday from previous close of Rs. 123.80 per kilogram. The MXC aluminium prices touched an intra-day high of Rs. 123.85 per kilogram and an intra-day low of Rs. 122.20 per kilogram during Tuesday.
However, MCX Aluminium prices recovered from the day's low as support seen after LME Aluminium was up 0.9 percent at $1,929.50 after the speculation that Aluminium's global surplus will fall sharply this year due to an environmental crackdown in top producer China and move to a deficit in 2018, although the market has largely priced in the impact.