Primary aluminum plunges on overseas market

According to the Brazilian aluminum producers' association, Brazilian primary aluminum production fell to 120,500 tonnes in March down 8.5% on the same month a year ago. Signs that demand may be picking up also boosted aluminum to 2-1/2 year highs on LME.

Aluminium has touched a low of INR 120 per kilogram after opening at INR 120.3 and last traded at INR 20.25. For today market is looking for the support at 119.8, a break below could see a test of 119.3 and where as resistance is now likely to be seen at 121, a move above could see prices testing 121.7.