Aluminium trading range for the day is 259.7-267.1 - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM OCT @ 263 SL 261 TGT 265-267. MCX
OBSERVATIONS
Aluminium trading range for the day is 258.9-268.1.
Aluminium prices fell due to worries about the trade tensions between the United States and China.
U.S. Treasury Secretary Scott Bessent said that President Donald Trump remains on track to meet Chinese leader Xi Jinping in late October.
Goldman Sachs revised its aluminium price forecast, projecting LME to fall to $2,350 per metric ton in Q426 from $2,700 currently
COPPER
BUY COPPER OCT @ 990 SL 985 TGT 996-1000. MCX
OBSERVATIONS
Copper trading range for the day is 961.9-1028.1.
Copper slipped as renewed fears of a prolonged US-China trade conflict rattled global markets.
China, the Yangshan copper premium , which reflects demand for copper imports, fell 8% to a two-month low of $45 a ton.
The IMF projects global economic growth to slow to 3.2% in 2025 and 3.1% in 2026, down from 3.3% in 2024.
ZINC
BUY ZINC OCT @ 290 SL 288 TGT 292-294. MCX
OBSERVATIONS
Zinc trading range for the day is 285.7-299.1.
Zinc dropped pressured by renewed US-China trade tensions and prospects of rising output.
Chinese zinc producer is preparing to sell metal overseas, taking advantage of higher international prices.
LME zinc stocks have fallen from 230,000 tons in January to just 40,850 tons by October.
