08 FEBRUARY 2016Shanghai Metal Market
India's major aluminium scrap prices up; MCX aluminium settles higher
Edited by : AL CIRCLE
1 min read
Major aluminium scrap commodities prices in India advanced on Thursday, February 4, while aluminium futures prices at Multi Commodity Exchange settled higher as a steep fall in the dollar eclipsed tepid demand in China, forcing shorts to cover ahead of the week long Lunar new year break.
The major aluminium scrap commodities rose on Scrap Register Price Index as on Thursday. India's major scrap commodities like aluminium accessories scrap, aluminium ingots, aluminium rod company, aluminium sheet cutting, aluminium utensil scrap and aluminium wire scrap traded up on Thursday.
The most active February aluminium contract on Multi Commodity Exchange settled slightly up by 0.39 pe cent to INR 104.45 per kilogram on Thursday from previous close of INR 104.05 per kilogram. The MXC aluminium prices touched an intra-day high of INR 105.05 per kilogram and an intra-day low of INR 103.80 per kilogram during Thursday.
According to the traders, besides increased domestic demand, strength in base metals pack at the London Metal Exchange as China's central bank sought to support the property market with steps that may spur investment in the country and demand from the construction industry, helped aluminium futures to rise.
The major aluminium scrap commodities rose on Scrap Register Price Index as on Thursday. India's major scrap commodities like aluminium accessories scrap, aluminium ingots, aluminium rod company, aluminium sheet cutting, aluminium utensil scrap and aluminium wire scrap traded up on Thursday.
The most active February aluminium contract on Multi Commodity Exchange settled slightly up by 0.39 pe cent to INR 104.45 per kilogram on Thursday from previous close of INR 104.05 per kilogram. The MXC aluminium prices touched an intra-day high of INR 105.05 per kilogram and an intra-day low of INR 103.80 per kilogram during Thursday.
According to the traders, besides increased domestic demand, strength in base metals pack at the London Metal Exchange as China's central bank sought to support the property market with steps that may spur investment in the country and demand from the construction industry, helped aluminium futures to rise.
Unlock full access – sign up for FREE.
Key benefits
Find exclusive data-driven insights and in-depth analysis
Get our daily newsletter delivered straight to your inbox
Access real-time and historical price trends from global indices
Post and respond to latest business leads
Stay ahead with alerts on learning tools
...and so much more!SIGN UP / LOGIN
Previous article
More effort needed to boost aluminium can recycling
Next articleBIR Non-Ferrous World Mirror February 2016
Grow with
AL Circle
