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Buy Aluminium OCT @ 201 SL 199 TGT 204-206. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 201.9-203.7.
Aluminium dropped as the outlook for the commodity worsened, with supply set to outweigh demand
LME stocks are currently sitting at 502,850 tonnes, a 12% increase from 447,250 tonnes at the beginning of the year
China exported 471,298.80 tonnes of unwrought aluminium and
aluminium products, in September, down from August's
490,131.60 tonnes.
BUY ALUMINIUM OCT @ 201 SL 199 TGT 204-206. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 695.8-704.6.
Copper gains supported by resilient demand in China amid signs of a stablizing economy
September copper imports by the world's top consumer hit an intra-year high, although still lower than last year's volume.
Copper production in Peru rose 7.5% year-over-year in August
BUY COPPER OCT @ 695 SL 690 TGT 702-708. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 219.3-222.1.
Zinc settled flat amid gloomy economic growth forecast and rising metal inventory.
China's Sept consumer prices flat, factory deflation persists
Global refined zinc markets are likely to see surpluses in both 2023 and 2024
BUY ZINC OCT @ 218 SL 215 TGT 222-224. MCX
