Aluminium yesterday traded with the negative node and settled -1.11% down at 112.95 on lower than the expected level of US retail sales in January which rose by 0.3% from December which had created pressure on US dollar index weakened slightly, China announced on Tuesday that the consumer price index (CPI) in January increased by 4.9% on a yearly basis, triggering investor concerns over more monetary tightening measures in China.

LME aluminum prices fell continuously to break through the USD 2,500/mt mark after opening at USD 2,521/mt, and finally closed at USD 2,492/mt, down USD 32/mt compared with the previous trading day. For today's session market is looking to take support at 112.2, a break below could see a test of 111.5 and where as resistance is now likely to be seen at 114.2, a move above could see prices testing 115.5.

Trading Ideas: Aluminium trading range is 111.5-115.5. Aluminium fell on lower than the expected level of US retail sales in January Aluminium is taking support at 111.80 and resistance at 114.20 level. Aluminium daily stocks at Shanghai exchange came up by 1981 tonnes. YESTERDAY LME STOCK FOR ALUMINIUM CAME UP BY 5500