Buy ALUMINIUM Dec @ 241 SL 239 TGT 243-245. MCX - Kedia Advisory
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Aluminium
OBSERVATIONS
Aluminium trading range for the day is 239.5-245.1.
Aluminium dropped after miner Rio Tinto lifted force majeure for alumina exports from its Australian refineries.
Global primary aluminium output in October rose 1.3% year on year to 6.221 million tonnes
China’s alumina production totaled around 7.4 million tons in October, growing by 5.4% compared to the same month a year ago.
BUY ALUMINIUM DEC @ 241 SL 239 TGT 243-245. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 803-814.
Copper prices rose with support from a weaker dollar.
China would launch more stimulus to counter risks of U.S. tariffs and to support its economy.
China's industrial profits fell in October but less sharply than the previous month
BUY COPPER DEC @ 805 SL 800 TGT 810-814. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 283.1-291.9.
Zinc prices rose as available LME zinc stocks slump to one – year low after cancellations.
Available zinc inventories in LME approved warehouses have slumped by 38% over two days to a one-year low.
Reduced metal availability in LME warehouses is creating supply pressure, meaning less zinc is accessible to other buyers.
BUY ZINC DEC @ 286 SL 284 TGT 289-292. MCX
