China is likely to produce 17 million metric tons of galvanized aluminum this year and domestic aluminum prices are likely to range within CNY15,500-18,000/ton. Aluminium has touched a low of Rs 99.8 a kg after opening at Rs 99.9, and last traded at Rs101.2.For today market is looking for the support at 100.2, a break below could see a test of 99.2 and where as resistance is now likely to be seen at 101.8, a move above could see prices testing 102.4.

Trading Ideas:

Aluminium trading range is 99.2-102.4.

2010 China aluminium output 17 million tonnes

Support for aluminium is at 100.20 and resistance is at 102.40 level.

Aluminium daily stock at Shanghai exchange came down by -843 tonnes.

BUY ALUMINIUM MAR @ 100.80 SL 99.80 TGT 101.40-102.20-103.MCX