Commodity Outlook for Aluminium by KediaCommodity

Brazilian output of primary aluminum rose to 130,600 metric tons in July, 1% higher than the same month a year ago, Brazil's Aluminum Association, or Abal, said. In the January-July period, output fell 0.8% to 891,800 tons, Abal said. Aluminium has touched a low of Rs 99.55 a kg after opening at Rs 100.75, and last traded at Rs100.25.For today market is looking for the support at 99.6, a break below could see a test of 98.9 and where as resistance is now likely to be seen at 101, a move above could see prices testing 101.7.

Trading Ideas:

Aluminium trading range is 98.9-101.7.

Brazil July aluminum output rose 1% on year to 130,600 tons

Support for aluminium is at 99.60 and resistance is at 101.70 level.