Aluminum rises on overseas market

Commodity reported that aluminum prices gained supported by higher energy prices with prices returning to above 5 day and 10 day moving averages.

Trading house Marubeni Corp said that aluminum stocks held at three major Japanese ports came to 201,200 tonnes at the end of March down 6,900 tonnes or 3.3% from a month earlier.

Aluminum has touched a low of INR 117.05 per kilogram after opening at INR 117.55 and last traded at INR 118.15. For today market is looking for the support at 117.2, a break below could see a test of 116.3 and where as resistance is now likely to be seen at 119, a move above could see prices testing 119.8.