Aluminium yesterday traded with the positive node and settled 0.48% up at 114.85 as massive earthquake and tsunami devastated Japan, triggering investor concerns over economic conditions in this country. Some support had been seen from the LME stock also which came down by -4550mt. LME aluminum prices opened at USD 2,538/mt, and later rebounded and returned to the 30-day moving average at the end of trading supported by a weaker US dollar, and finally LME aluminum prices closed at USD 2,555/mt, up USD 10/mt compared with the previous trading day, or up 0.39%. In yesterday's trading session aluminium has touched the low of 112.35 after opening at 113.15, and finally settled at 114.85. For today's session market is looking to take support at 113.2, a break below could see a test of 111.5 and where as resistance is now likely to be seen at 115.8, a move above could see prices testing 116.7.

Trading Ideas:

Aluminium trading range is 111.5-116.7.

Aluminium ended firm as massive earthquake triggered investor concerns over economic conditions

Aluminium is taking resistance at 115.80 and support is seen at 113.20.

Aluminium daily stocks at Shanghai exchange came up by 201 tonnes.