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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