On LME aluminum prices opened at USD 2,480/mt, and later climbed to USD 2,490/mt, close to the 2-year high of USD 2,500/mt. Although later the tumbling LME copper prices weighed down LME aluminum prices, LME aluminum prices still closed at USD 2,485/mt, up USD 1/mt compared with the previous trading day. LME aluminum inventories fell by 2,075 mt to 4,274,975 mt. Aluminium has touched a low of Rs 110.95 a kg after opening at Rs 111.35, and last traded at Rs112.For today market is looking for the support at 111.1, a break below could see a test of 110.1 and where as resistance is now likely to be seen at 112.8, a move above could see prices testing 113.6.

Trading Ideas:

Aluminium trading range is 110.1-113.6.

Producers increased purchases due to improvement in cash flows after the holiday.

Aluminum is taking resistance at 113.20 and support is seen at 111.80.

Aluminium daily stocks at Shanghai exchange came down by 251 tonnes

BUY ALUMINIUM JAN @ 110.50 SL 109.50 TGT 111.50-112.50.MCX

YESTERDAY LME STOCK FOR ALUMINIUM CAME DOWN  BY -2075