Buy Aluminium Oct @ 234 SL 232 TGT 236-240. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 232.8-238.6.
Aluminium dropped weighed down by a lack of aggressive stimulus measures in China for the property market.
China announced it will expand credit support to CNY 4 trillion to assist troubled property builders, ease purchase curbs
China’s aluminum smelters not to be affected by power cuts due to sufficient rainfall
BUY ALUMINIUM OCT @ 234 SL 232 TGT 236-240. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 803.3-825.7.
Copper slipped amid a lack of forceful policy support measures for the beleaguered property sector in China.
Peru copper output up jumps 11% in August
Chinese officials said that the country will expand a “white list” of real estate projects and increase bank lending for these developments
BUY COPPER OCT @ 812 SL 807 TGT 818-822. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 275.1-286.1.
Zinc dropped as funds exited industrial metals and switched to gold to reduce exposure to China's struggling economy.
The pessimism towards China, remained after a lack of fresh stimulus from a closely-watched housing policy briefing.
Global zinc market is facing a sizeable supply deficit in 2024 as a raw materials squeeze forces smelters to reduce production
BUY ZINC OCT @ 281 SL 279 TGT 283-285. MCX
