Upsurge in demand buoys aluminium futures

Aluminium futures were trading higher during morning trade in the domestic market on Monday as investors and speculators build up fresh bets in the industrial metal amid uptick in physical demand for aluminium at the domestic spot market. 

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Aluminium prices ended with gains on talk that China might have to cut smelting capacity because of environmental concerns.Inventories of aluminium inched slightly lower to 2.3 million tonnes but are up nearly 10 percent over the last month.WBMS indicates that global primary aluminum market has recorded a marginal deficit during the initial eleven months of 2016.

                     Trading Ideas

  1. Aluminium trading range for the day is 122.4-128.4.

  2. Aluminium prices ended with gains on talk that China might have to cut smelting capacity because of environmental concerns.

  3. Inventories of aluminium inched slightly lower to 2.3 million tonnes but are up nearly 10 percent over the last month.

  4. WBMS indicates that global primary aluminum market has recorded a marginal deficit during the initial eleven months of 2016.

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