Buy Aluminium Dec @ 243 SL 241 TGT 245-247. MCX - Kedia Advisory
Aluminium
OBSERVATIONS
Aluminium trading range for the day is 241.9-248.3.
Aluminium gains as Russian aluminium producer Rusal will cut output by more than 6%.
Global aluminium output rises 1.3% year on year in October
Aluminium stocks at Japanese ports fell to 311,400 metric tons by the end of October, down about 0.5% from the previous month.
BUY ALUMINIUM DEC @ 243 SL 241 TGT 245-247. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 803-813.6.
Copper climbed as the US dollar weakened following President-elect Donald Trump’s nomination of Scott Bessent for Treasury Secretary.
PBOC held key lending rates steady, providing no additional monetary support that markets had hoped for to stimulate the economy.
Global copper inventories continued to decline amid stronger consumption.
BUY COPPER DEC @ 803 SL 798 TGT 808-812. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 276.6-283.6.
Zinc gains buoyed by bargain hunting and increased risk appetite.
The global zinc market deficit edged down to 79,500 metric tons in September from 85,000 tons in August - ILZSG
Shanghai bonded zone zinc ingot inventory was 10,500 mt, up 500 mt WoW.
BUY ZINC DEC @ 278.5 SL 276.5 TGT 281-282.5. MCX
