BUY COPPER NOV @ 792 SL 788 TGT 797-802. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 232.8-254.2.
Aluminium rose as alumina supply remained tight, coupled with production cuts or suspensions by some enterprises.
China's finance ministry said it would reduce or cancel export tax rebates for aluminium, effective Dec. 1.
Shanghai warehouse aluminium stocks down 13.3%
BUY ALUMINIUM NOV @ 241 SL 239 TGT 244-246. MC
COPPER
OBSERVATIONS
Copper trading range for the day is 782.2-819.8.
Copper dropped amid a surging U.S. dollar and investors assessed the demand outlook in China.
China's finance ministry said it would reduce or cancel export tax rebates for copper products.
Shanghai warehouse copper stocks down 6.6%
BUY COPPER NOV @ 792 SL 788 TGT 797-802. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 270.1-288.7.
Zinc gains tracking firmness in other base metals after China announced it cancel export tax rebates, sparking global supply disruptions.
China's August zinc consumption shrank by 3% to 581,000 tonnes, WBMS data showed.
Chinese zinc producers are rushing to send 30,000 to 40,000 metric tons of refined zinc to Shfe warehouses.
BUY ZINC NOV @ 275 SL 273 TGT 278-280. MCX
