India: Aluminium scrap import prices soften on mixed sentiments

Aluminium scrap import prices fell by up to $90/t following yesterday’s 4-5% correction in base metals prices on major exchanges. Except SHFE, however, prices on LME and MCX improved slightly today. Most overseas sellers are expecting bullish price trends, whereas Indian importers prefer to utilise existing stocks rather than future bookings. Current aluminium scrap tense offers from the Middle East are assessed at $2,000-2,020/t CIF Nhava Sheva.