India major aluminium scrap prices show flat trend; aluminium futures down

India  major aluminium scrap commodities prices showed a flat trend on Wednesday, while  aluminium futures prices at Multi Commodity Exchange ended down in the line of  expectation tracking weakness from LME Aluminium which sank to its lowest in six  weeks in yesterday's session on persistent worries about oversupply from Chinese  smelters.

The major aluminium scrap commodities showed  a flat trend during Wednesday. India's major scrap commodities like aluminium  accessories scrap, aluminium cable scrap , aluminium ingots, aluminium rod  company, aluminium rod local, aluminium scrap 6063 and aluminium scrap  taint/tabor remained flat on Wednesday.

The most active July aluminium  contract on Multi Commodity Exchange settled down by 0.18 per centto INR 106.45 per  kilogram on Wednesday from previous close of Rs. 106.95 per kilogram. The MXC  aluminium prices touched an intra-day high of INR 106.95 per kilogram and an  intra-day low of INR 106.10 per kilogram during Thursday.

Mostly the  entire base metals complex was pressured by a stronger dollar. Volumes on the  London Metal Exchange were thin in the seasonal summer slowdown and also ahead  of the US central bank decision on interest rates.

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