NEW DELHI (Scrap Register): Major aluminium scrap commodities prices in India remained stable on the Scrap Register Price Index as on Tuesday, while aluminium futures prices at India's Multi Commodity Exchange settled slightly higher ahead of expected weaker Chinese data as well as a possible increase in US interest rates.
India's major aluminium scrap commodities like aluminium accessories scrap, aluminium accessories 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 as on Scrap Register Prices Index on Tuesday.
The most active June aluminium contract on Multi Commodity Exchange settled slightly higher by 0.08% to Rs. 121.35 per kilogram on Tuesday from previous close of 121.25 per kilogram. The MXC aluminium prices touched an intra-day high of Rs. 121.75 per kilogram and an intra-day low of Rs. 120.55 per kilogram during Tuesday.
The US Federal Reserve is widely expected to raise its benchmark interest rate in a decision scheduled for Wednesday, but this is largely priced into the market.