Premiums paid by Asian buyers for spot primary aluminum may fall at least 10% in the next 2 months to around USD 100 per tonne over cash London prices due to higher availability of the metal. Aluminium has touched a low of Rs 93.6 a kg after opening at Rs 95.95, and last traded at Rs94.6.For today market is looking for the support at 93.5, a break below could see a test of 92.4 and where as resistance is now likely to be seen at 95.8, a move above could see prices testing 97.1.

Trading Ideas:

Aluminium trading range is 92.4-97.1.

Asia spot aluminum premiums may drop as supplies weigh

Support for aluminium is at 83.50 and resistance is at 95.80 level.

Aluminium daily stock at Shanghai exchange came up by 3406 tonnes.

SELL ALUMINIUM MAY @ 96 SL 99.50 TGT 94.50-92.20.MCX