IGI Logo

ALUMINIUM

OBSERVATIONS

Aluminium trading range for the day is 204.2-206.4.

Aluminium gains as smelters in southwestern Yunnan province started cutting a total of 1.15 million tons of capacity in early November

Fears of reduced domestic supply propelled more buying from abroad

China's Oct aluminium imports rise on solid demand, fears of reduced domestic supply

BUY ALUMINIUM NOV @ 203.5 SL 201.5 TGT 206-207.5. MCX

COPPER

OBSERVATIONS

Copper trading range for the day is 710.9-721.9.

Copper rose as Union strike starts at MMG'S Peru Las Bambas copper mine

China's refined copper production in October jumped 13.3% to 11.3 million metric tons year-on-year

Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 11.0 % from last Friday.

BUY COPPER NOV @ 715 SL 712 TGT 720-724. MCX

ZINC

OBSERVATIONS

Zinc trading range for the day is 225.5-230.9.

Zinc prices gained amid a softer dollar and hopes of improving demand

China's central bank and financial regulators pledged to ensure financing support for the property sector

China's refined zinc output was 604,600 mt in October, a growth of 60,600 mt or 11.14% month-on-month

BUY ZINC NOV @ 226 SL 224 TGT 229-231. MCX