IGI Logo

ALUMINIUM

OBSERVATIONS

Aluminium trading range for the day is 201.1-204.3.

Aluminium dropped as the outlook of a hawkish Fed and a slowing Chinese economy.

China's primary aluminium output in September rose 5.3% from a year earlier

Primary aluminium output totalled 30.81 million tons in the first nine months of 2023, up 3.3% from 2022

BUY ALUMINIUM OCT @ 201 SL 199 TGT 204-206. MCX

COPPER

OBSERVATIONS

Copper trading range for the day is 695.2-705.2.

Copper settled flat after LME inventories rose to a two-year high

China's Sept refined copper output jumps 14.5% y/y

Antofagasta expects copper output up to 710,000 t in 2024

BUY COPPER OCT @ 697 SL 693 TGT 703-708. MCX

ZINC

OBSERVATIONS

Zinc trading range for the day is 217.4-220.2.

Zinc prices dropped due to concerns about global demand.

In September 2023, China's refined zinc output was 544,000 mt, a growth of 3.31% month on month

ILZSG zinc supply will exceed usage by a hefty 248,000 tonnes with the surplus growing to 367,000 in 2024

BUY ZINC OCT @ 218 SL 215 TGT 222-224. MCX