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India aluminium extends gain on global cues & spot demand; scrap prices inch higher by INR2
Market14/Jul/2016AlCircle.comBase metal prices including price of aluminium rose further by up to INR 5 per kg in Indian non-ferrous metal market today, tracking a firming trend overseas amid increased demand from consuming industries.
Traders said sentiment remained firm on the back of a firm global trend where copper surged to its highest level since early May, briefly topping USD 5,000 per tonne, on expectations that policy makers are gearing up for economic stimulus that will buoy demand materials.
Aluminium sheet cutting, aluminium wire scrap and aluminium utensils scrap finished higher by INR 2 each to INR 150, INR 150 and INR 148 per kg, respectively.
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