Aluminum stocks, which have neared record highs of 4,640,750 tonnes hit in January 2010, fell 5,025 tonnes to 4,593,175 tonnes. The global aluminum market was in surplus by 558,000 metric tons in 2010, the World Bureau of Metal Statistics said. Aluminium has touched a low of Rs 114.25 a kg after opening at Rs 114.55, and last traded at Rs114.5.For today market is looking for the support at 114.3, a break below could see a test of 114.1 and where as resistance is now likely to be seen at 114.7, a move above could see prices testing 114.8.

Trading Ideas:

Aluminium trading range is 114.1-114.8.

Global aluminum market in 558,000-ton surplus in 2010 - WBMS

Aluminium is taking support at 113.20 and resistance at 115.60 level.

Aluminium weekly stocks at Shanghai exchange came down by 4378 tonnes.

SELL ALUMINIUM FEB @ 115.50 SL 116.40 TGT 114.80-114-113.20.MCX

YESTERDAY LME STOCK FOR ALUMINIUM CAME DOWN  BY -5025