The global aluminum market was in surplus by 447,000 metric tons in the first 11 months of the year, the World Bureau of Metal Statistics said.

This compares with a surplus of 1.553 million tons in the same period a year before. Demand for primary aluminum in the first 11 months of 2010 was 36.8 million tons, which is 4.626 million tons more than in the same period the previous year. Aluminium yesterday traded with the negative node and settled -0.68% down at 109.6. Some pressure had been seen from the LME stock also which came up by 650mt, the total stock at LME is now at 4486325mt. In yesterday's trading session aluminium has touched the low of 108.3 after opening at 110, and finally settled at 109.6. For today's session market is looking to take support at 108.4, a break below could see a test of 107.2 and where as resistance is now likely to be seen at 110.7, a move above could see prices testing 111.8.

Trading Ideas:

Aluminium trading range is 107.2-111.8.

Global aluminum market in 447,000-ton surplus in Jan-Nov - WBMS

Aluminium is taking support at 108.40 and resistance at 110.70 level.

Aluminium daily stocks at Shanghai exchange came down by 4424 tonnes

SELL ALUMINIUM JAN @ 110.50 SL 111.20 TGT 109.0-109-108.50.MCX