16 FEBRUARY 2016Shanghai Metal Market
India aluminium scrap prices remain flat; MCX aluminium settles slightly up
Edited by : AL CIRCLE
1 min read
India major aluminium scrap commodities prices remained flat on Friday last week, while aluminium futures prices at Multi Commodity Exchange (MCX) settled slightly higher boosted by the expectations of dovish comments from a senior U.S. Federal Reserve official but gains were limited by the continuing concerns for the global economy.
The major aluminium scrap commodities dropped on Scrap Register Price Index as on Friday. India's major scrap commodities like aluminium accessories scrap, aluminium ingots, aluminium rod company, aluminium rod local, aluminium sheet cutting, aluminium utensil scrap and aluminium wire scrap were remained flat on Friday.
The most active February aluminium contract on Multi Commodity Exchange settled slightly up by 0.50% to INR 102.60 per kilogram on Friday from previous close of INR 102.10 per kilogram. The MXC aluminium prices touched an intra-day high of INR 102.85 per kilogram and an intra-day low of INR 101.90 per kilogram during Friday.
Global growth concerns have been aggravated by large losses in bank shares, the potential for a financial crisis and worries about the U.S. Federal Reserve raising rates despite signs of economic slowdown in the United States.
The major aluminium scrap commodities dropped on Scrap Register Price Index as on Friday. India's major scrap commodities like aluminium accessories scrap, aluminium ingots, aluminium rod company, aluminium rod local, aluminium sheet cutting, aluminium utensil scrap and aluminium wire scrap were remained flat on Friday.
The most active February aluminium contract on Multi Commodity Exchange settled slightly up by 0.50% to INR 102.60 per kilogram on Friday from previous close of INR 102.10 per kilogram. The MXC aluminium prices touched an intra-day high of INR 102.85 per kilogram and an intra-day low of INR 101.90 per kilogram during Friday.
Global growth concerns have been aggravated by large losses in bank shares, the potential for a financial crisis and worries about the U.S. Federal Reserve raising rates despite signs of economic slowdown in the United States.
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