Aluminium yesterday traded with the positive node and settled 0.52% up at 115.7 after the US Department of Labor announced on February 10th that initial jobless claim in the week ending on Feb 5th slipped to 383k, while the previous estimation was 410k, the lowest since July 5th 2008. The US dollar was boosted to open at 77.66 in response, and later claimed all the way to close at 78.00, up by 0.71%. LME aluminum prices were weighed to open at USD 2,534/mt, touching the lowest at USD 2,520/mt, and closed at USD 2,538/mt, down by USD 3/mt from a day earlier. Russia exported 3.34 million metric tons of primary aluminum in 2010, 7.1% less than in 2009, the federal customs service reported. In yesterday's trading session aluminium has touched the low of 114.75 after opening at 115.35, and finally settled at 115.7. For today's session market is looking to take support at 115, a break below could see a test of 114.4 and where as resistance is now likely to be seen at 116.1, a move above could see prices testing 116.5.

Trading Ideas:

Aluminium trading range is 114.4-116.5.

Russia 2010 aluminum exports 7.1% down on year at 3.34m tons

Aluminium is taking support at 114.50 and resistance at 116.60 level.

Aluminium daily stocks at Shanghai exchange came unchanged