Aluminium yesterday traded with the negative node and settled -1.25% down at 104.3 as investors continued to worry about weaker global growth. Prices have been under heavy selling pressure in recent sessions, as increasing concerns over the outlook for global economic growth dampened the appeal of the commodity. Official data released last week showed that China’s Q3 GDP grew at an annualized rate of 7.4%. Investors are also turning their attention to the Fed's policy meeting after the central bank announced its QE3 last month. Rajoy said last Friday he still had not decided whether to request a sovereign bailout, dampening hopes the debt-strapped nation was moving closer to requesting a full-scale bailout. A bailout would allow the European Central Bank to step in and buy Spanish sovereign debt, which would result in reduced borrowing costs for the debt-strapped nation. But Spain has been reluctant to do so because it may come with conditions on its budget. In aluminium, data from the International Aluminium Institute showed global daily output rose slightly in September to 67,000 tonnes. In yesterday's trading session aluminium has touched the low of 103.7 after opening at 105.3, and finally settled at 104.3. For today's session market is looking to take support at 103.6, a break below could see a test of 102.8 and where as resistance is now likely to be seen at 105.2, a move above could see prices testing 106.1.

Trading Ideas:

Aluminium trading range for the day is 102.8-106.1.

Aluminium settled -1.25% down as investors continued to worry about weaker global growth.

Data from the IAI showed global daily output rose slightly in September to 67,000 tonnes.

Some investors staying on the sidelines ahead of the much-awaited policy statement from the Federal Reserve on Wednesday