India Aluminium Scrap prices stay flat; Aluminium Futures gain slightly

Gold mostly flat in Asia as investors cautious ahead of Fed policy views.

Gold prices barely moved in Asia on Tuesday with attention on the Federal Reserve and demand prospects for the precious metal as it moves to normalize monetary policy. Gold prices barely moved in Asia on Tuesday with attention on the Federal Reserve and demand prospects for the precious metal as it moves to normalize monetary policy. The U.S. economy created far fewer jobs than expected in the month of May while a slump in energy prices is expected to weigh on the pace of inflation. Gold is sensitive to moves higher in U.S. interest rates, which lift the opportunity cost of holding non-yielding assets such as bullion. Despite investor expectations of an interest rate hike, demand for gold has remained robust in recent months, as data showed that state investors increased their net gold holdings to record levels in an effort to hedge against a potential weaker dollar.

India Copper Scrap prices gain in line with Copper Futures.

India's major copper scrap prices gained on the Scrap Register Price Index as on Friday in line with copper futures prices at India's Multi Commodity Exchange led by the concerns over supply from Chile, recent data pointing to robust import demand in China and falling stocks of the metal. China reported stronger-than-anticipated exports and imports for May, despite falling commodity prices, indicating the economy is holding up better than expected despite rising lending rates and a cooling property market..

India Aluminium Scrap prices stay flat; Aluminium Futures gain slightly.

Major aluminium scrap commodities prices in India stayed flat on the Scrap Register Price Index as on Friday, while aluminium futures prices at Multi Commodity Exchange gained mainly due to the better Chinese trade data that showed imports and exports picked up in May. China Aluminum International Trading Co. (Chalco Trading) continued cutting aluminum prices it offered in major markets today after cut yesterday.

Crude gains in Asia with OPEC monthly report awaited.

Crude prices gained in Asia on Tuesday with data on major global inventories ahead this week in a market looking for signs that demand is bringing down swollen stocks. A duo of oil reports expected from OPEC and the International Energy Agency (IEA) on Tuesday and Wednesday, respectively will set the tone. For the OPEC report, the comparison to May will be key when it pointed to continued high compliance by its members with the supply deal and said oil stocks in industrialised nations fell in March - although they are still 276 million barrels above the five-year average. Sentiment on oil prices turned positive, after Saudi Energy Minister Khalid al-Falih said inventories are declining and reductions will accelerate in the next 3 – 4 months.

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