Aluminium yesterday traded with the negative node and settled -0.82% down at 110.35 as LME aluminum prices slipped continuously after opening at USD 2,472/mt, and later hit a low of USD 2,431/mt, and finally closed at USD 2,437/mt, down USD 13/mt compared with the previous trading day. LME aluminum inventories increased by 23,700 mt to 4,485,675 mt that had created the pressure, but strong buying at the low-end of aluminum price range helped aluminum prices fall slower than other base metals prices. In yesterday's trading session aluminium has touched the low of 109.75 after opening at 111.25, and finally settled at 110.35. For today's session market is looking to take support at 109.5, a break below could see a test of 108.6 and where as resistance is now likely to be seen at 111.6, a move above could see prices testing 112.8.

Trading Ideas:

Aluminium trading range is 108.6-112.8.

Aluminium yesterday ended down tracking weakness iin LME prices

Aluminium is taking support at 110.40 and resistance at 112.30 level.

Aluminium daily stocks at Shanghai exchange came down by 1492 tonnes