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ALUMINIUM

BUY ALUMINIUM OCT @ 263 SL 261 TGT 265-267. MCX

OBSERVATIONS

Aluminium trading range for the day is 259.7-267.1.

Aluminium rose tracking LME prices past $2,750 per tonne in October, the highest in over three years, amid tight supply.

Chinese authorities cut their annual output growth target for base metals to an average of 1.5% annually for 2025 and 2026, compared to the 5% target previously. China exported 521,000 tonnes of unwrought aluminium and aluminium products in September, down from August's 534,000 tonnes.

COPPER

BUY COPPER OCT @ 1000 SL 996 TGT 1005-1010. MCX

OBSERVATIONS

Copper trading range for the day is 923.1-1049.1.

Copper jumped after US President Donald Trump said that trade relations with China “will all be fine”

China's imports of copper rose 14.1 % from month ago to 485,000 tonnes in September.

ShFE copper stocks are at just under 110,000 tons, the highest since April 25 but down almost 60% from February.

ZINC

BUY ZINC OCT @ 293 SL 291 TGT 295-297. MCX

OBSERVATIONS

Zinc trading range for the day is 290.6-298.2.

Zinc rose amid hopes of easing trade tensions between the United States and China.

Focus on LME zinc stocks at 37,475 tons, down 70% since mid-July to lowest since Mar 2023.

Zinc supply worries lift LME cash premium to $100/T, highest in three years.