India aluminium scrap prices show downtrend on Index; aluminium futures stay flat

Major India aluminium scrap commodity prices registered a drop on the Scrap Register Index on Monday, June 26, while aluminium futures prices showed no change at the Multi Commodity Exchange (MCX). The market focus was on rising aluminium supply, higher inventories, and surging exports from China. The output costs of the primary metal in India’s domestic market, however, were recorded at lows.

India aluminium scrap commodities which showed a clear downtrend on the Index were aluminium rod company, aluminium rod local, aluminium sheet cutting, aluminium utensil scrap and aluminium wire scrap.

Other aluminium scrap commodities remained unchanged at their previous price levels.

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On MCX, the most active June aluminium contract remained flat at INR 120 per kilogram on Monday, June 26. The MCX aluminium prices touched an intra-day high of INR 120.20 per kilogram and an intra-day low of INR 119.20 per kilogram during Monday’s trading hours.