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Aluminium

OBSERVATIONS

Aluminium trading range for the day is 206.5-211.9.

Aluminium eased as the outlook of a hawkish Fed lifted the US dollar and hampered industrial sentiment.

China halted the expansion of production capacity beyond the current limit of 45 million tons

The HCOB Eurozone Manufacturing PMI was confirmed at 43.4 in September 2023 

BUY ALUMINIUM OCT @ 206 SL 204 TGT 209-211. MCX

Copper

OBSERVATIONS

Copper trading range for the day is 692.7-718.1.

Copper fell amid expectations of further rises in exchange inventories

Stocks of copper in LME registered warehouses at 168,600 tons have climbed more than 200% since the middle of July

Money managers were net short 21,220 copper contracts on Sept. 26, the biggest since May 30

BUY COPPER OCT @ 702 SL 698 TGT 706-710. MCX

Zinc

OBSERVATIONS

Zinc trading range for the day is 220.5-229.3.

Zinc dropped as the soaring dollar reinforced concerns about demand for industrial metals.

Zinc retreated as the market factored in increasing supplies of the metal used to galvanise steel and mounting stocks

Combined zinc inventories in LME and warehouses monitored by ShFE fell back in the second and third quarters 

BUY ZINC OCT @ 222 SL 220 TGT 225-227. MCX