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.
豫公网安备41010502003434号