Russian exported 827,500 metric tons of aluminum between January and March, a rise of 2.1% on the year, the federal customs service reported.
The exported aluminum was worth $1.447 billion, compared with $1.428 billion a year ago. Aluminium has touched a low of Rs 94.6 a kg after opening at Rs 95.7, and last traded at Rs95.4.
For today market is looking for the support at 94.6, a break below could see a test of 93.8 and where as resistance is now likely to be seen at 96.2, a move above could see prices testing 96.9.
Trading Ideas:
Aluminium trading range is 93.8-96.9.
Russia Jan-Mar aluminum exports +2.1% on year at 827,500 tons
Support for aluminium is at 94.60 and resistance is at 96.20 level.
BUY ALUMINIUM MAY AT 94.80 SL 93.80 TGT 95.50-96.40.MCX
Courtesy: Kedia Commodities