Aluminium futures were trading higher during the late morning trade in the domestic market on Tuesday as participants widened their positions amid an increase in physical demand for aluminium in the domestic spot market.

At the MCX, aluminium futures for August 2016 contract is trading at Rs 109.55 per kg, up by 0.50 %, after opening at Rs 109.45, against a previous close of Rs 109. It touched the intra-day high of Rs 109.60.

Aluminium on MCX settled up by 1.29% at 109.85 as support seen after Norsk Hydro raise its estimate of growth in global aluminium demand to between 4 per cent and 5 % from 3 to 4 %. While upside was capped as the dollar rebounded and nervousness over global central bank policy persisted, with China's state planner calling for policy easing but not specifying when. In earlier hours Chinese Caixin services PMI which disappointed the market in morning came at 51.70 against the 52.9 expected, 52.7 previous. Visit Us www.ripplesadvisoryx.com/freetrial.php or Get Free Trials Just Give One Missed Call @98-27-80-80-90.

                                 Trading Ideas 

1. Aluminium trading range for the day is 107.4-111.4.       

2. Aluminium gained as support seen after Norsk Hydro raise its estimate of growth in global aluminium demand.                       

3. Growth in China's services sector cooled in July, with companies shedding staff for first time in four months.