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Aluminium futures were trading higher during late morning trade in the domestic market on Monday as speculators created fresh positions. Analysts said fresh position built up by participants, driven by pick up in demand from consuming industries in the spot market, mainly led to rise in aluminium prices at futures trade. At the MCX, aluminium futures for December 2016 contract is trading at Rs 117.55 per kg, up by 0.60 per cent, after opening at Rs 117.10, against a previous close of Rs 116.85. It touched the intra-day high of Rs 117.80.

                          Trading Ideas

1. Aluminium trading range for the day is 115.7-118.

2. Aluminium dropped despite of news Alcoa shut a potline at its Australian Portland smelter due to a power shortage.

3. Throughout the year, the PBoC has injected billions of yuan into the economy to stabilize growth and ensure the country expands at a clip of 6.5-7%.

4. The U.S labor market showed that the economy created more jobs than expected in November while the jobless rate unexpectedly fell.