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ALUMINIUM

OBSERVATIONS

Aluminium trading range for the day is 205.2-208.4.

Aluminium rose as smelters in China's Yunnan province trimmed production

Global aluminium production has ramped up this year as smelters come back on line in Europe

Market surpluses of 338,000 tons this year and 250,000 tons in 2024, an about-face from deficits 191,750 tons

BUY ALUMINIUM NOV @ 205 SL 203 TGT 208-210. MCX

COPPER

OBSERVATIONS

Copper trading range for the day is 704.1-716.3.

Copper pared gains after data showed higher inventories in exchange-registered warehouses

Copper stocks in the LME-registered warehouses rose after their recent decline

Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 11.3% this week.

BUY COPPER NOV @ 706 SL 702 TGT 710-714. MCX

ZINC

OBSERVATIONS

Zinc trading range for the day is 220.5-225.7.

Zinc prices rose as Nyrstar plans to temporarily close two zinc mines.

Global zinc market surplus widens in August – ILZSG

The global zinc market to show a surplus of 148,000 metric tons this year and 238,000 tons in 2024.

BUY ZINC NOV @ 221 SL 219 TGT 224-226. MCX