Aluminium trading range for the day is 260.4-265.8- Kedia Advisor
ALUMINIUM
BUY ALUMINIUM OCT @ 262 SL 260 TGT 264-266. MCX
OBSERVATIONS
Aluminium trading range for the day is 260.4-265.8.
Aluminium prices dropped pressured by renewed US-China trade tensions and prospects of rising output.
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 979.7-1006.7.
Copper dropped as escalating US-China tensions darkened the global demand outlook.
In the latest flare-up, President Trump threatened Beijing with a cooking oil embargo in response to China’s soybean boycott.
On the supply side, persistent disruptions in Chile and Indonesia continued to tighten global output.
ZINC
BUY ZINC OCT @ 289 SL 287 TGT 291-293. MCX
OBSERVATIONS
Zinc trading range for the day is 286.4-294.
Zinc dropped as trade tensions between the United States and China, escalated, risking demand growth for the metal.
The premium for the LME cash zinc contract against the three-month fell to $75 a ton from Monday's $202.
Tight zinc stocks in the LME-registered warehouses – currently at their lowest level since early 2023
