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ALUMINIUM

OBSERVATIONS

Aluminium trading range for the day is 203.7-206.1.

Aluminium gains amid China's decision to roll out fresh stimulus measures

Aluminium ingot inventory stood at 626,000 mt, down 10,000 mt from October 16

Global aluminium output rises 2.7% year on year in September 

BUY ALUMINIUM NOV @ 203 SL 201 TGT 206-208. MCX

COPPER

OBSERVATIONS

Copper trading range for the day is 695.4-708.8.

Copper fell amid stronger dollar and further signs of stagnating euro zone economy

China's top parliament approved a 1 trillion yuan bond issue, adding that the funds would be spent rebuilding disaster zones and improving infrastructure

The global refined copper market showed a 33,000 metric tons deficit in August

BUY COPPER NOV @ 698 SL 694 TGT 703-708. MCX

ZINC

OBSERVATIONS

Zinc trading range for the day is 220.5-223.7.

Zinc gains as China’s fresh stimulus announcements supported the outlook on industrial demand.

Beijing stated it would widen its budget for the year to borrow an extra CNY 1 trillion and focus on manufacturing investments

The global zinc market surplus widened to 22,000 metric tons in August from 2,900 tons a month earlier

BUY ZINC NOV @ 220 SL 218 TGT 223-225. MCX