Buy Aluminium DEC @ 202 SL 200 TGT 204-205. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 202.8-204.4.
Aluminium dropped as global aluminium output rises 3.9% year on year in October
Data showed that China imported 1.17 million mt of primary aluminum in January-October, up 173% YoY.
Chinese regulators including the People's Bank of China are drafting a "whitelist" lending support to 50 property developers
BUY ALUMINIUM DEC @ 202 SL 200 TGT 204-205. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 715.2-725.
Copper slipped as worries about demand resurfaced after weak data from China
Profits at China's industrial companies rose 2.7% year on year in October, slowing from the 11.9% increase in September.
The global refined copper market showed a 55,000 metric tons deficit in September.
BUY COPPER DEC @ 716 SL 712 TGT 720-724. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 224-230.6.
Zinc prices dropped as China's refined zinc output in October seen up by 11.14% month-on-month.
Global zinc market swings to deficit in September – ILZSG
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange fell 12.1% from last Friday
BUY ZINC DEC @ 224 SL 222 TGT 227-229. MCX
