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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