Commodity Outlook for Aluminum by KediaCommodity
Aluminum prices aren't low enough to see China cut output or delay planned new capacity. Aluminium has touched a low of Rs 101.05 a kg after opening at Rs 101.7, and last traded at Rs102.7.For today market is looking for the support at 101.5, a break below could see a test of 100.3 and where as resistance is now likely to be seen at 103.5, a move above could see prices testing 104.3.
Trading Ideas:
Natural Gas trading range is 176.6-184.8.
Natural gas rose on speculation that warmer weather will boost demand
Natural gas looks to test support at 179 and resistance is seen at 183.1.
U.S. EIA reported last week that inventories as of Sept. 17 were 6.2% above five-year average