Aluminium settled flat recovering from losses seen earlier due to geopolitical developments with the USA attacking a Syrian air base. China's foreign exchange reserves rose slightly in March, though by a bit less than the market expected, as capital control measures and a pause in the dollar's rally helped contain capital outflows. The deficit in the global aluminium market to widen further in CY2017 as a result of up to almost 3 million metric tonne (MMT) of production cutbacks in China, post the imposition of a new air pollution control regime in Beijing. 

China’s inventories of aluminum ingot registered the first decline after the 2017 Chinese New Year holiday. Last week, total aluminum inventories in the five major trading markets fell 4,000 tonnes, according to data.

Trading Ideas: 

* Aluminium trading range for the day is 123.1-127.3. 

*Aluminium settled flat recovering from losses seen earlier due to geopolitical developments with the USA attacking a Syrian air base. 

* The deficit in the global aluminium market to widen further in CY2017 as a result of up to almost 3 MMT of production cutbacks in China. 

* China has tightened rules on moving capital outside the country in recent months and stem a slide in its foreign exchange reserves.

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