IGI Logo

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