Total world aluminum inventories in January 2010 rose by 66,000 metric tons to 2.293 million tons, from 2.227 million tons in December, according to figures released by the International Aluminum Institute.  January's figure is down 717,000 tons from the January 2009 inventory figure of 3.010 million tons. Aluminium has touched a low of Rs 97.55 a kg after opening at Rs 98, and last traded at Rs98.For today market is looking for the support at 97.5, a break below could see a test of 97 and where as resistance is now likely to be seen at 98.6, a move above could see prices testing 98.6, a move above could see prices testing 99.1.

Trading Ideas:

Aluminium trading range is 97-99.1.

Total world aluminum inventories in January 2010 rose by 66,000 metric tons

Support for aluminium is at 97.05 and resistance is at 99.10 level.

Aluminium daily stock at Shanghai exchange came down by -222 tonnes.

BUY ALUMINIUM MAR @ 97 SL 95.90 TGT 97.80-98.60-99.80. MCX