Buy Aluminum Oct @ 261 SL 259 TGT 263-265. MCX- Kedia Advisory
ALUMINIUM
BUY ALUMINIUM OCT @ 261 SL 259 TGT 263-265. MCX
OBSERVATIONS
Aluminium trading range for the day is 257.6-268.6.
Aluminium dropped after US President Trump warned of “massive” tariff hikes and may cancel his meeting with Xi Jinping.
Aluminium inventories in warehouses monitored by the SHFE rose 1.0% from last Friday, the exchange said.
Goldman Sachs revised its aluminium price forecast, LME prices to fall to $2,350 ton in Q426 from $2,700 currently
COPPER
BUY COPPER OCT @ 965 SL 960 TGT 972-977. MCX
OBSERVATIONS
Copper trading range for the day is 931.9-1031.5.
Copper prices dropped after President Trump threatened a “massive increase” in China tariffs.
Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 15.4% from last Friday
Chilean state miner Codelco produced 93,400 metric tons in August, its lowest monthly output in over two decades.
ZINC
BUY ZINC OCT @ 291 SL 289 TGT 294-296. MCX
OBSERVATIONS
Zinc trading range for the day is 286.7-300.7.
Zinc prices dropped as U.S.-China trade tensions intensified
Zinc inventories in warehouses monitored by SHFE rose 9.1% from last Friday, the exchange said.
Smelter output was due to drop in Japan with the closure of the key Toho Zinc Annaka plant.
