Chinese pollution fears weigh India aluminium scrap and futures prices

<p>India's major aluminium scrap commodities prices stayed stable on Tuesday, while aluminium futures prices at Multi Commodity Exchange settled slightly higher mainly due the renewed concerns about potential closures of Chinese smelters to cut pollution. <br /><br />The major aluminium scrap commodities on the Scrap Register Price Index remained flat on Tuesday. India's major aluminium 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 and aluminium wire scrap showed a flat trend on Tuesday.<br /><br />{googleAdsense}<br /><br />The most active February aluminium contract on Multi Commodity Exchange edged up by 0.68 percent to INR 125.90 per kilogram on Tuesday from previous close of INR 125.05 per kilogram. The MXC aluminium prices touched an intra-day high of INR 127.15 per kilogram and an intra-day low of INR 125.45 per kilogram during Tuesday.<br /><br />In a sign of growing public anger about pollution, hundreds of residents in a northeastern Chinese city protested against the building of an aluminium processing plant. <br /><br />This came a day after Reuters reported a draft policy document showed that the world's biggest metals consumer was considering forcing steel and aluminium producers to cut more output as Beijing intensifies its war on smog.</p>