India aluminium scrap prices hold ground while aluminium futures decline on MCX

Major aluminium scrap commodity prices in India market remained steady on Thursday, April 13, while aluminium futures prices on Multi Commodity Exchange (MCX) witnessed a slide. The overall price ended below at INR 123.10 per kilogram.

India's aluminium scrap commodities, the major ones that is, like aluminium accessories scrap, aluminium cable scrap, aluminium ingots, aluminium rod company, aluminium rod local, aluminium scrap 6063 and aluminium scrap taint/tabor did not show much change on Thursday.

The most actively traded April aluminium contract on MCX declined by 1.13 per cent to settle at INR 123.10 per kg on Thursday from its previous close of INR 122.35 per kg. MCX aluminium prices registered an intra-day peak at INR 123.30 per kg and an intra-day low of INR 122.25 per kg the same day.

MCX aluminium prices fell tracking the weakness in other base metal prices at London Metal Exchange.

Chinese aluminium producers are expected to step up their aluminium and other base metal exports in coming months as an improved global manufacturing climate and shrinking world stockpiles seem to be boosting overall demand, opine traders and analysts.

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