Buy Aluminum OCT@ 321 SL BELOW 319 TGT 326. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM OCT@ 321 SL BELOW 319 TGT 326. MCX
Observations
Aluminium trading range for the day is 320.50-326.00.
Aluminium dropped as EGA has restarted 631 of 1,262 reduction cells at its Al Taweelah smelter, restoring 50% of capacity.
China's primary aluminium production hit a record quarterly high in July to September.
Aluminium is expected to swing into a surplus in 2027. potentially of more than 1 million metric tons
COPPER
SELL COPPER OCT @ 1366 SL ABOVE 1372 TGT 1356. MCX
Observations
Copper trading range for the day is 1311.50-1410.50.
Copper fell as further inflows into LME warehouses eased some supply fears.
LME Copper stocks climbed for a fourth day after 29,050 tons of inflows, chiefly in the US storage hub of New Orleans.
COMEX copper stocks have climbed for 23 days straight to a record 794,450 short tons, or 720,712 metric tons.
ZINC
SELL ZINC OCT @ 418 SL ABOVE 422 TGT 412. MCX
Observations
Zinc trading range for the day is 409.00-425.50.
Zinc dropped as global refined zinc market is expected to swing to a surplus of 25,000 metric tons in 2027 from a deficit.
Chinese mine output is expected to rise month-on-month in October as operations resume.
LME cash contracts traded at a premium to three-month contracts, signalling tightness in immediate availability.
