The global aluminum market was in surplus by 1.048 million metric tons between January and November, the World Bureau of Metal Statistics said. Overall, global production in the first 11 months of the year fell 7% compared to 2008. Aluminium has touched a low of Rs 102.8 a kg after opening at Rs 104.65, and last traded at Rs103.6.

For today market is looking for the support at 102.70, a break below could see a test of 101.80 and where as resistance is now likely to be seen at 104.50, a move above could see prices testing
105.50.

Trading Ideas:

Aluminium trading range is 100-107.

Global aluminum market was in surplus by 1.048 million metric tons between Jan to Nov

Now support for aluminium is at 102.50 and resistance is at 104.80 level.

Aluminium daily stock at Shanghai exchange came down by -1195 tonnes.

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