By Vibin AntonyAluminum scrap prices in India witnessed a mixed trend on Tuesday, while the
future price at Multi Commodity Exchange (MCX) dropped to Rs. 112 per
kilo gram.
Indian aluminum scrap prices showed a mixed trend on Scrap Register Price Index as on Tuesday. Scrap prices of Aluminum Accessories advanced to 123, 000 a ton.
However, the scrap prices of aluminum ingots, aluminum wire, aluminum sheet cutting and aluminum utensil remained flat on Tuesday.
Meanwhile, the scrap Aluminum Rod company and local witnessed a down trend on Tuesday, prices drop to 171,000 and 166,00 respectively.
Aluminum future prices have tumbled over the past seven weeks in all global exchanges. Concerns of a slowdown in China have dragged prices of base metals since late November. The fall was triggered by a contraction in China’s manufacturing activity.
International aluminum spot prices reached a of $2,099 a ton on November 28. Since then, prices have fallen by about 15% to $1,791 a ton currently.
Aluminum futures traded on the Multi Commodity Exchange (MCX) which moves in tandem with the global spot price is also down over 14% during the same period.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
Indian aluminum scrap prices showed a mixed trend on Scrap Register Price Index as on Tuesday. Scrap prices of Aluminum Accessories advanced to 123, 000 a ton.
However, the scrap prices of aluminum ingots, aluminum wire, aluminum sheet cutting and aluminum utensil remained flat on Tuesday.
Meanwhile, the scrap Aluminum Rod company and local witnessed a down trend on Tuesday, prices drop to 171,000 and 166,00 respectively.
Aluminum future prices have tumbled over the past seven weeks in all global exchanges. Concerns of a slowdown in China have dragged prices of base metals since late November. The fall was triggered by a contraction in China’s manufacturing activity.
International aluminum spot prices reached a of $2,099 a ton on November 28. Since then, prices have fallen by about 15% to $1,791 a ton currently.
Aluminum futures traded on the Multi Commodity Exchange (MCX) which moves in tandem with the global spot price is also down over 14% during the same period.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
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