Aluminium trades sideways, closes 0.52% up $2126

The 3 month LME aluminium forwards traded sideways for the day and prices end at $2,126 per tonnes, up by 0.52%.

LME warehouses reported to shed 4475 tonnes to stocks of 4.583 million tonnes.

United Company Rusal Plc, the world's largest aluminium producer, plans to increase aluminium and alumina output in 2010 as economic development in China and India is expected to boost demand for the metal.

Courtesy: Karvy Commtrade Ltd.