Commodity Outlook for Aluminum by KediaCommodity
Russia exported 1.127 million metric tons of aluminum in January-April, a fall of 1.7% on the year, when 1.146 million tons was exported, the federal customs service reports. The exported aluminum was worth $1.982 billion, compared with $1.809 billion a year ago. Aluminium has touched a low of Rs 90.15 a kg after opening at Rs 91.85, and last traded at Rs92.8.For today market is looking for the support at 91, a break below could see a test of 89.2 and where as resistance is now likely to be seen at 93.8, a move above could see prices testing 94.8.
Trading Ideas:
Aluminium trading range is 89.2-94.8.
Russia exported 1.127 million metric tons of aluminum in January-April
Support for aluminium is at 91.60 and resistance is at 93.80 level.
U.S. aluminum exports fell 32.8% in April from the previous month
BUY ALUMINIUM JUNE ABV 93 SL 92 TGT 93.80-95.MCX