Aluminium on MCX settled down -1.03% at 134.10 tracking weakness from LME aluminium which was down by 1.3 percent at $2,110 as nervousness about demand in China and a higher dollar impacted. Overall prices seen rise was as a result of the increasingly divergent levels of supply and demand in the sector, arising in large part thanks to capacity cuts at smelters in the People’s Republic of China.

Trading Ideas:

* Aluminium trading range for the day is 132.3-136.1.

* Aluminum stocks grew a lot at three major ports in Japan at the end of August, stocks totaled 282,600 tonnes.

* Aluminum premiums to buyers in Japan might fall only slightly in Q4 from Q3’s level thanks to higher premiums in the US and contango on the LME.

* Hefty supply of metals was outweighing expectations that a flurry of data over the next few weeks will underscore a strong second-half economic outlook for China.

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