Buy Aluminium NOV @ 207 SL 205 TGT 209-211. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 206.6-209.8.
Aluminium dropped as markets continued to gauge the demand outlook from China.
Beijing is set to emit CNY 1 trillion in extra debt to spur manufacturing activity and infrastructure construction.
PMI data unexpectedly showed contractions in China’s manufacturing sector
BUY ALUMINIUM NOV @ 207 SL 205 TGT 209-211. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 704.1-714.9.
Copper fell amid pressure from a stronger dollar and some respite in inventory levels.
China's October copper imports jump amid low stocks, solid demand
Copper inventories at the Shanghai Futures Exchange rose by 11.2% to 40,516 tonnes
BUY COPPER NOV @ 707 SL 703 TGT 712-715. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 224.4-228.2.
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 @ 226 SL 224 TGT 228-229. MCX
