Aluminum yesterday traded with the positive node and settled 1.01% up at 99.65; market is focused on premiums for aluminum for nearby delivery due to tight supplies and dominant holdings of warrants on stocks of the metal in LME warehouses and cash contracts.

There was a premium of $5 a tonne for material for delivery on Wednesday compared with material for delivery on Thursday, Nearly 34,000 lots, or about 850,000 tonnes, of aluminum changed hands in tom/next trade on Tuesday. For today's session market is looking to take support at 98.7, a break below could see a test of 97.7 and whereas resistance is now likely to be seen at 100.6, a move above could see prices testing 101.6.       

Aluminium trading range is 97.4-101.3.

Aluminum stocks at major Japanese ports were up 3.3% at the end of July

Support for aluminium is at 97.90 and resistance is at 99.70 level.

A physically backed aluminum exchange-traded product (ETP) planned to be launched on a Swiss exchange

BUY ALUMINIUM AUG @ 98.60 SL 97.80 TGT 99.20-100.MCX

YESTERDAY LME STOCK FOR ALUMINIUM CAME UP  BY 70825