Aluminium on MCX settled up 1.29% at 109.95 as inventories tracked by exchanges in London and Shanghai declined, signaling tighter supplies. Support also seen to aluminium prices as Chinese aluminium smelters reverse output cuts. Stockpiles of aluminum held in Shanghai Futures Exchange warehouses fell this week to the lowest since 2011 and those tracked by the London Metal Exchange had the biggest weekly drop since 2006, data showed. 

Aluminium futures were trading higher during the morning trade in the domestic market on Monday as investors and speculators widened their bets amid a surge in physical demand for aluminium in the domestic spot market

At the MCX, aluminium futures for August 2016 contract is trading at Rs 110.40 per kg, up by 0.41 per cent, after opening at Rs 110.10, against a previous close of Rs 109.95. It touched the intra-day high of Rs 110.55

                                Trading Ideas

1. Aluminium trading range for the day is 108.4-110.8.       

2. Aluminium prices ended with gains as inventories tracked by exchanges in London and Shanghai declined, signaling tighter supplies.              

3. Stockpiles of aluminum held in SHFE warehouses fell to the lowest since 2011 and those tracked by the LME had the biggest weekly drop since 2006.    

          

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