South Korea's Public Procurement Service, a state agency that stockpiles strategic commodities, said Thursday that it has purchased 3,000 metric tons of Indian aluminum at a premium of $123 a metric ton to the prevailing London Metal Exchange price, which was $2,095/ton at the time of the bidding. Aluminium has touched a low of Rs 92.8 a kg after opening at Rs 95.05, and last traded at Rs94.5.For today market is looking for the support at 93, a break below could see a test of 91.4 and where as resistance is now likely to be seen at 95.9, a move above could see prices testing 97.3.

Trading Ideas:

Aluminium trading range is 91.4-97.3.

Korea's PPS buys 3000 ton aluminium at premium $123 per tonne to LME prices

Support for aluminium is at 93 and resistance is at 95.90 level.

Aluminium daily stock at Shanghai exchange came down by -1344 tonnes.

SELL ALUMINIUM MAY @ 94.50 SL 95.50 TGT 93.80-92.60.MCX