INDIA May 10 2017 5:38 PM
NEW DELHI (Scrap Register): India major aluminium scrap commodities prices on the Scrap Register Price Index stayed flat as on Tuesday, while aluminium futures prices at Multi Commodity Exchange settled slightly higher at Rs. 121.05 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 showed a flat trend on Tuesday.
The most active May aluminium contract on Multi Commodity Exchange edged up by 0.12% Rs. 121.05 per kilogram on Tuesday from previous close of 120.90 per kilogram. The MXC aluminium prices touched an intra-day high of Rs. 121.70 per kilogram and an intra-day low of Rs. 120.65 per kilogram during Tuesday.
Aluminum output in China will refresh record high in May since growing profit brought by falling costs will incentive production.
China’s aluminum output rose 21.5% year-on-year to 3.03 million tonnes in April and rose 21.9% year-on-year to 12.02 million tonnes during January-April. Annualized aluminum capacity in operation increased 6.53 million tonnes from a year ago to 36.88 million tonnes in April.
