MCX Aluminum may note some gains

MCX Aluminum gained in trade on Tuesday tracking slight rebound in international markets. MCX Aluminum June contract is trading at Rs 105.70, up 0.52% on Tuesday. It opened at Rs 105.70 and touched a high of Rs 106.05. (12 noon)

Commenting on the outlook, Kotak Commodity Services said, "The gains may be capped amid record high stocks at LME warehouses coupled with supply glut in physical market. Stocks at LME rose by 59,600 tons yesterday after gaining by 32,550 tons last week hitting record high. Support for Aluminum June contract is seen at Rs.104 while resistance of Rs.107."