Tuesday, 8 July 2014

CAPITAL STROKE UPDATE 8-July-2014 : MCX ALUMINIUM



Aluminium trading range for the day is 112.8-115.8.

Aluminium gained as support seen from the LME aluminium price, which breached the psychologically important $1,900 a tonne,

China is expected to meet the 2014 GDP growth target after its economy improved in the second quarter.

Aluminium for a long time has been excess capacity outside China and its use leading to the buildup of stocks of over 5mt at LME warehouses.

Warehouse stock for Aluminium at LME was at 5038525mt that is down by -10700mt.

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