ZOID RESEARCH 11-JUNE-2014 : ALUMINIUM

Record low inventory at LME pushing the prices higher, however, we wish to refrain for now as profit booking from higher levels may be expected This morning at LME, aluminum is seen trading steady to marginally lower and we believe profit booking is noticed in the market Inventory too had been relatively positive for the commodity lately with stocks falling for more than months now. Yesterday LME aluminum stocks fell to 5.14 million tons Contango between cash to 3M LME forwards stay near the $25 per MT mark, its lowest in years and further supporting positivity about the commodity. We have a buying view in the commodity today from lower levels.

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