Buy Aluminium NOV @ 325 SL BELOW 322 TGT 330. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM NOV @ 325 SL BELOW 322 TGT 330. MCX
Observations
Aluminium trading range for the day is 323.50-331.00.
Aluminum gains as LME inventories fell by 0.74%, indicating a tight exchange-stock cushion.
Global primary aluminium output in September fell 1.4% year on year to 6.014 million tonnes.
However upside was capped amid risk-off sentiment ahead of the Fed meeting, and persistent concerns over a CY27 global surplus.
COPPER
BUY COPPER NOV @ 1390 SL BELOW 1384 TGT 1400. MCX
Observations
Copper trading range for the day is 1370.00-1408.00.
Copper gained amid stronger China demand expectations, and mine-supply disruptions.
ShFE copper stocks fell more than 25% to 54,356 tons.
Global refined copper market showed a 132,000 metric tons surplus in August, compared with a 45,000 metric tons deficit in July.
ZINC
BUY ZINC NOV @ 410 SL BELOW 406 TGT 418. MCX
Observations
Zinc trading range for the day is 394.00-424.50.
Zinc jumped as falling inventories and rising power prices boosted sentiment.
SHFE zinc stocks fell 5% from the previous week to 137.139 tons, the lowest since March.
The cash LME zinc contract was at a roughly $80 a ton premium over the three-month forward, pointing to near-term tightness.
