India aluminium scrap prices remain flat; aluminium futures down

India major aluminium scrap commodities prices remained stable on Tuesday, while aluminium futures prices at Multi Commodity Exchange settled down tracking weakness from LME Aluminium ended down 0.8 percent at $1,647 as the dollar held steady and markets awaited fresh signals for direction.

The major aluminium scrap commodities remained flat on Scrap Register Price Index as on Tuesday. India's major scrap commodities like aluminium accessories scrap,  aluminium cable scrap , aluminium ingots, aluminium rod company, aluminium rod  local, aluminium scrap 6063, aluminium scrap taint/tabor, aluminium sheet  cutting, aluminium utensil scrap, aluminium wire scrap remained flat on  Tuesday.

The most active July aluminium contract on Multi Commodity Exchange settled slightly down by 0.99 per cent to INR 109.75 per kilogram on Tuesday from previous close of INR 110.85 per kilogram. The MCX aluminium prices touched an intra-day high of INR 111 per kilogram and an intra-day low of INR 109.35 per kilogram during Tuesday.

The home price rises in China slowed in June for a second straight month, adding to fears that  a construction-led rebound in the economy may not be sustainable.