India Aluminium Scrap prices remain steady; Aluminium Futures edge up

INDIA May 12 2017 4:17 PM
NEW DELHI (Scrap Register): India major aluminium scrap commodities prices on the Scrap Register Price Index remained steady on Thursday, while aluminium futures prices at Multi Commodity Exchange edged up to Rs. 120.85 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 remained flat on Thursday.

The most active May aluminium contract on Multi Commodity Exchange edged up by 0.21% Rs. 120.85 per kilogram on Thursday from previous close of 120.60 per kilogram. The MXC aluminium prices touched an intra-day high of Rs. 121.80 per kilogram and an intra-day low of Rs. 120.35 per kilogram during Thursday.

Recently, China announced that it will reduce its alumina and aluminium production in the coming months on environmental concerns. This comes at a time when demand growth is expected to be good.