Aluminium Trading Range For The Day Is 123.6-126.8 - Ripples Advisory Pvt Ltd

Aluminium on MCX settled up 0.32% at 125.30 tracking LME aluminum which was up 0.89% at $1,934.50 per ton having earlier hit its highest since early March as support seen with the update in regards with China's air pollution regulations coming into effect last week, there is much speculation about how production cuts will affect the global market, and has already seen the LME price rise. Data from the International Aluminium Institute (IAI) showed that Daily average primary aluminium output in China fell to 90,500 tonnes in February from 95,200 tonnes the month earlier. Total aluminium production in top producer China fell to 2.534 million tonnes last month from 2.950 million in January, the group said in its monthly bulletin on Monday. 

Trading Ideas: 

*Aluminium trading range for the day is 123.6-126.8. 

*Aluminium gains tracking rise LME aluminium prices by climbed 0.3 percent as support seen after drop in LME stocks. 

*Daily average primary aluminium output in China fell to 90,500 tonnes in February from 95,200 tonnes the month earlier, IAI data showed. 

*Aluminum daily stocks at Shanghai exchange came up by 1931 tonnes.

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