Aluminium yesterday traded with the positive node and settled 0.31% up at 112.65. Aluminium output in China, the world's top producer, may be trimmed further this month as smelters in southwest Guizhou province face power cuts to offset soaring energy demand linked to freezing weather. Aluminium smelting capacity, including capacity that was built but has not been started production was over 21 million tonnes a year at the end of last year. Some pressure had been seen from the LME stock also which came up by 24200mt, the total stock at LME is now at 4393700mt. In yesterday's trading session aluminium has touched the low of 112.35 after opening at 112.35, and finally settled at 112.65. For today's session market is looking to take support at 112.2, a break below could see a test of 111.8 and where as resistance is now likely to be seen at 113.2, a move above could see prices testing 113.8.

Trading Ideas:

Aluminium trading range is 111.8-113.8.

Aluminium output in China may be trimmed further this month

Aluminium is taking support at 112.20 and resistance at 113.20 level.

Aluminium daily stocks at Shanghai exchange came down by 1713 tonnes

BUY ALUMINIUM JAN @ 111.80 SL 111 TGT 112.80-113.50-114.20.MCX

YESTERDAY LME STOCK FOR ALUMINIUM CAME UP  BY 14650