India aluminium scrap prices remain flat

India major aluminium scrap commodities prices remained flat on Friday, last week, while aluminium futures prices at India's Multi Commodity Exchange settled slightly lower, tracking weakness in other base metals counters as market is witnessing under long liquidation.

The major aluminium scrap commodities dropped on Scrap Register Price Index as on Friday. India's major scrap commodities like aluminium accessories scrap, aluminium cable scrap, aluminium ingots, aluminium rod company, aluminium rod local, aluminium scrap, aluminium scrap taint/tabor, aluminium sheet cutting, aluminium utensil scrap and aluminium wire scrap remained flat on Friday.

The most active January aluminium contract on Multi Commodity Exchange settled slightly lower by 0.30% to INR 100.75 per kilogram on Friday from previous close of INR 101.05 per kilogram. The MXC aluminium prices touched an intra-day high of INR 101.95 per kilogram and an intra-day low of INR 100.60 per kilogram during Friday.

China's plans to set up funds to manage coal and steel capacity closures and stockpiling schemes offer nervous markets some clarity on the likely future make-up of the country's sprawling and predominantly state-run metals and mining industries.

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