08 OCTOBER 2015Shanghai Metal Market
Chinese National Day holiday hits India aluminium scrap, MCX aluminium prices
Edited by : AL CIRCLE
1 min read
India major aluminium scrap commodities prices declined on Tuesday, September 6, in line with aluminium futures prices at India's Multi Commodity Exchange (MCX) as Chinese markets remained closed for its National Day holiday.
The major aluminium scrap commodities dropped on Scrap Register Price Index as on Tuesday. India's major scrap commodities like aluminium accessories scrap, aluminium rod local, aluminium sheet cutting, aluminium wire scrap traded down on Tuesday.
The most active October aluminium contract on Multi Commodity Exchange settled down by 0.2% to INR 100.50 per kilogram on Tuesday from previous close of INR 100.70 per kilogram.
The MXC aluminium prices touched an intra-day high of INR 101.50 per kilogram and an intra-day low of INR 100.20 per kilogram during Tuesday. The open interest of the contract stood at 6550 lots.
Aluminium outlook still remain weak as concerns about slowing demand growth in top consumer China and an oversupplied market resurfaced, but falling inventories, planned output cuts and a weaker dollar helped limit losses.
The major aluminium scrap commodities dropped on Scrap Register Price Index as on Tuesday. India's major scrap commodities like aluminium accessories scrap, aluminium rod local, aluminium sheet cutting, aluminium wire scrap traded down on Tuesday.
The most active October aluminium contract on Multi Commodity Exchange settled down by 0.2% to INR 100.50 per kilogram on Tuesday from previous close of INR 100.70 per kilogram.
The MXC aluminium prices touched an intra-day high of INR 101.50 per kilogram and an intra-day low of INR 100.20 per kilogram during Tuesday. The open interest of the contract stood at 6550 lots.
Aluminium outlook still remain weak as concerns about slowing demand growth in top consumer China and an oversupplied market resurfaced, but falling inventories, planned output cuts and a weaker dollar helped limit losses.
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