India aluminium scrap prices stay flat; aluminium futures gain slightly

Major aluminium scrap commodities prices in India stayed flat on the Scrap Register Price Index as on Friday, while aluminium futures prices at Multi Commodity Exchange gained mainly due to the better Chinese trade data that showed imports and exports picked up in May.

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 steady trend as on Scrap Register Prices Index as on Friday.

The most active June aluminium contract on Multi Commodity Exchange settled higher by 0.41% to INR 122.60 per kilogram on Friday from previous close of INR 122.10 per kilogram. The MXC aluminium prices touched an intra-day high of INR 122.70 per kilogram and an intra-day low of INR 121.20 per kilogram during Friday.

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Prices also seen supported on news that Qatar's exports of the metal had been blocked and rising geopolitical tensions. Miner Alcoa said it had restarted half the capacity at its 300,000 tonnes per year Portland smelter in Australia crippled by a blackout half a year ago.