11 AUGUST 2016Scrap Register
India major aluminium scrap prices continue to stay flat; MCX aluminium down
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1 min read
<p>India major aluminium scrap commodities prices continued to stay flat on Tuesday, while aluminium futures prices at Multi Commodity Exchange settled down due to seasonally weak demand in top metals consumer China and concern that Beijing may not cut rates soon. <br /><br />The major aluminium scrap commodities continued to show a flat trend during Tuesday. India's major 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, aluminium wire scrap remained flat during the day.<br /><br />The most active August aluminium contract on Multi Commodity Exchange settled slightly down by 0.09 per cent to INR 109.60 per kilogram on Tuesday from previous close of INR 109.70 per kilogram. The MXC aluminium prices touched an intra-day high of INR 109.95 per kilogram and an intra-day low of INR 109.25 per kilogram during Tuesday.<br /><br />From China, producer price deflation moderated further, adding to views that the central bank may be in no hurry to cut interest rates, after the country's exports and imports fell more than expected in July in a rocky start to the third quarter.</p>
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