India: Imported aluminium scrap prices gain on strong LME, buyers adopt wait-and-watch approach
India's imported aluminium scrap prices rose in the week ended 6 January, supported by selective buying and stronger global aluminium sentiment. BigMint assessed Middle East-origin Tense (8-9 per cent) at USD 1,940 per tonne, up USD 10 per tonne w-o-w, while Middle East-origin Extrusion 6063 jumped USD 115 per tonne to USD 2,785per tonne, led by improved interest in higher-grade material.
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Meanwhile, UK-origin Zorba 95 per 5 increased by USD 60 per tonne to USD 2,380per tonne, and US-origin Tense (6-7 per cent) rose USD 20 per tonne to USD 2,045per tonne. Prices of US-origin Taint Tabor HRB (3 per cent) climbed USD 40 per tonne to USD 2,305 per tonne, while UK-origin Wheel scrap gained USD 35 per tonne to USD 2,710 per tonne. Overall, the market remained firm, with gains across most grades amid cautious but steady buying interest.
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LME aluminium cash strengthens to $3,092/t while opening stocks ease to 504,250t
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