26 AUGUST 2011china aluminium network
Outlook on aluminum : Kotak Commodity
Edited by : AL CIRCLE
1 min read
Kotak Commodity has come out with its report on aluminum.
MCX Aluminum may note some gains tracking copper prices, however the upside remains capped. Recent jump in stocks at LME warehouses may weigh on the gains. Stocks at LME fell by 7300 tonnes yesterday after rising by 105625 tonnes last week while cancelled warrants rose to 7.13%. Support for Aluminum August contract is seen at Rs.106.5 while resistance of Rs.109.5.
MCX Aluminum may note some gains tracking copper prices, however the upside remains capped. Recent jump in stocks at LME warehouses may weigh on the gains. Stocks at LME fell by 7300 tonnes yesterday after rising by 105625 tonnes last week while cancelled warrants rose to 7.13%. Support for Aluminum August contract is seen at Rs.106.5 while resistance of Rs.109.5.
Previous article
Glencore Aluminium Business - Seeking New Contracts In Gulf
Next articleInfosys Renews Contract With Alcoa
Grow with
AL Circle
