Aluminium yesterday traded with the negative node and settled -0.56% down at 116.4 as Investor concerns over the Libyan political turmoil hampered the upward momentum in LME base metals prices, and LME aluminum prices opened at an intraday low of USD 2,591/mt, and finally closed at USD 2,603/mt after kept struggling around USD 2,600/mt, down USD 7/mt compared with the previous trading day, or down 0.27%. In yesterday's trading session aluminium has touched the low of 115.95 after opening at 116.5, and finally settled at 116.4. For today's session market is looking to take support at 115.9, a break below could see a test of 115.4 and where as resistance is now likely to be seen at 117, a move above could see prices testing 117.5.

Trading Ideas:

Aluminium trading range is 115.4-117.5.

Aluminium output from top producer China could rise by 24 percent this year to 20 million tonnes

Aluminium is taking support at 115.20 and resistance at 117.50 level.

Aluminium daily stocks at Shanghai exchange remained unchanged.