Buy Copper DEC @ 718 SL 714 TGT 723-726. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 201.4-204.8.
Aluminium dropped as global aluminium output rises 3.9% year on year in October
Data showed that China imported 1.17 million mt of primary aluminum in January-October, up 173% YoY.
Chinese regulators including the People's Bank of China are drafting a "whitelist" lending support to 50 property developers
BUY ALUMINIUM DEC @ 202 SL 200 TGT 204-205. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 713.4-727.2.
Copper gains after workers go on indefinite strike at MMG's Las Bambas copper mine
Profits at China's industrial firms extended gains for a third month in October, albeit at a slower pace
Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 15.6 % from last Friday
BUY COPPER DEC @ 718 SL 714 TGT 723-726. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 224.8-228.8.
Zinc gains on hopes that top metals consumer China will extend support measures for its economy.
Global zinc market swings to deficit in September – ILZSG
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange fell 12.1 % from last Friday
BUY ZINC DEC @ 226 SL 224 TGT 228-230. MCX
