India's imported aluminium scrap prices remain volatile w-o-w
Aluminium scrap prices imported into India remained volatile for another week, with specific grades increasing by up to $60/tonne compared to the previous week. In contrast, other grades declined by up to $30/tonne.
Due to the divergent opinions among traders, the market displayed mixed emotions. Western suppliers were hesitant to make discounts, and purchasers modestly altered their bids in line with metal futures.
Many buyers booked material to meet immediate needs despite fluctuating market dynamics. According to reliable sources, suppliers had to remain cautious due to the significant difference between bids and offers of $60-80/tonne.
Several transactions were completed, according to market sources. However, volumes declined due to continued volatility in futures and contract expiration.
Aluminium scrap prices remained stable compared to the previous trading day, with tense prices at INR 161,000/tonne and utensil prices at INR 170,000/tonne (a 1.4 per cent decline), both ex-Delhi. Sources confirmed that the decrease in utensil prices was attributed to weak demand, leading market participants to give discounts of up to INR 3,000-4,000/tonne.
Received under the content exchange agreement with SteelMint
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