IGI Logo

ALUMINIUM

SELL ALUMINIUM OCT @ 264 SL 266 TGT 262-260. MCX

OBSERVATIONS

Aluminium trading range for the day is 261.8-264.8.

Aluminium gains due to persistent threats to supply.

Alcoa announced it will shut its Kwinana alumina refinery in Australia due to deteriorating bauxite or grades.

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.

COPPER

SELL COPPER OCT @ 996 SL 1000 TGT 992-988. MCX

OBSERVATIONS

Copper trading range for the day is 987.6-999.8.

Copper gains as plunging treatment and refining charges threatened to curb refined output by squeezing producer margins.

The metal also drew support from expectations of additional Federal Reserve rate cuts.

Top US officials criticized China’s rare earth export controls for potentially disrupting supply chains, though Beijing defended the move.

ZINC

SELL ZINC OCT @ 292 SL 294 TGT 290-288. MCX

OBSERVATIONS

Zinc trading range for the day is 288.6-293.2.

Zinc prices gained amid likelihood of capacity cuts by Chinese miners and refiners.

However upside seen limited as trade tensions between the US 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.