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Kedia Commodity Viewpoint for Aluminium

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by - 6/4/2010 3353 Views

Russia’s primary aluminum output in January to April fell by 2.2% on the year


aluminum_pipes_tubes-1.jpgThis Year Russian’s primary aluminium output from January to April fell by 2.2% . Alunimum traded with the negative node and settled -1.81% down at 91.2 yesterday. Also trading session Aluminium has touched the low of 90 after opening at 92.8, and finally settled at 91.2. For today's session market is looking to take support at 89.6, a break below could see a test of 88 and where as resistance is now likely to be seen at 93.2, a move above could see prices testing 95.2. Spread between aluminium JUN & JUL contracts yesterday ended at 1.00.  Spread yesterday traded in the range of 0.95 - 1.35.

Trading Ideas:

 Trading range of Aluminium is 88-95.2.
 Russia’s primary aluminum output in January to April fell by 2.2% on the year.
 Support for aluminium is at 89.60 and resistance is at 92.40 level.
 Aluminium daily stock at Shanghai exchange came down by -1739 tonnes.

Category : Metal

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For the past three years I have been working for RecycleinME .To help our valued members of RecycleinME, I involved in researching the current market trend of various scrap materials.more info

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