Buy Aluminium NOV @ 205 SL 203 TGT 208-210. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 206-207.4.
Aluminium dropped as China’s manufacturing activity unexpectedly returned to contraction in October
Chinese aluminium smelters to cut output as Yunnan enters dry season
The official NBS Non-Manufacturing PMI for China was down to 50.6 in October 2023 from 51.70 a month earlier.
BUY ALUMINIUM NOV @ 205 SL 203 TGT 208-210. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 702.3-712.7
Copper dropped as manufacturing activities in China unexpectedly contracted in October.
China's official purchasing managers' index (PMI) fell to 49.5 in October, an official factory survey showed
Stocks at the SHFE and the LME plummeted by nearly 40% on the week ending October 27th
BUY COPPER NOV @ 703 SL 698 TGT 710-713. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 217.3-222.3.
Zinc dropped as China’s manufacturing PMI fell to 49.5 in October
The NBS Composite PMI Output Index in China fell to 50.7 in October 2023 from 52.0 in the prior month
The global refined zinc market was headed for a surplus of 248,000 metric tons this year
BUY ZINC NOV @ 217 SL 215 TGT 220-222. MCX
