Buy Aluminium NOV @ 202 SL 200 TGT 204-205. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 201.8-205.8.
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 NOV @ 202 SL 200 TGT 204-205. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 708-719.
Copper slid due to a firmer U.S. dollar and renewed economic risks.
Copper market in 55,000 metric tons deficit in Sep 2023 – ICSG Limited supply and healthy demand in
China underpinned imports, reflected by a recent rally in the Yangshan copper premium.
BUY COPPER NOV @ 710 SL 706 TGT 715-720. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 221.5-225.9.
Zinc dropped as LME zinc inventories see more large gains, tripling in a week
The sharp rise comes amid a background of oversupply as weak economic activity hits industrial manufacturing
Global zinc market surplus widens in August – ILZSG
BUY ZINC NOV @ 221 SL 219 TGT 224-226. MCX
