Powered by: Motilal Oswal
10-10-2023 10:18 AM | Source: Kedia Advisory
Aluminium trading range for the day is 203.6-208.6 - Kedia Advisory

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

Aluminium

OBSERVATIONS

Aluminium trading range for the day is 203.6-208.6.

Aluminum gains recovers on short covering after pressure seen as the outlook of a hawkish Fed lifted the dollar.

Demand for aluminium in China has been surprisingly robust despite the country's property sector crisis

Data showed U.S. employment increased by the most in eight months in September as hiring rose broadly

BUY ALUMINIUM OCT @ 204 SL 202 TGT 206-208. MCX 



Copper

OBSERVATIONS

Copper trading range for the day is 703.6-718.2.

Copper rose as markets reassessed the impact of soaring bond yields on the demand for industrial inputs.

Optimistic PMI data from the US underscored the robustness of manufacturers to tighter monetary policy

Output from Codelco sank by 14% in the first half of the year, stretching the 7% decline from 2022

BUY COPPER OCT @ 708 SL 703 TGT 713-718. MCX 



Zinc

OBSERVATIONS

Zinc trading range for the day is 220.4-227.

Zinc recovers on short covering after pressure seen as worries over more interest rate hikes by Fed weighed.

Global refined zinc markets are likely to see surpluses in both 2023 and 2024

Zinc is expected to see a surplus of 248,000 tons in 2023 and a surplus of 367,000 tons in 2024.

BUY ZINC OCT @ 221 SL 218 TGT 224-227. MCX 



To Read Complete Report & Disclaimer     Click Here

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer