Buy Copper Nov @ 992 SL 987 TGT 998-1002. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM NOV @ 262 SL 260 TGT 264-266. MCX
Observations
Aluminium trading range for the day is 260.9-266.7.
Aluminium dropped tracking a broader pullback from risk assets ahead of key US data releases.
China's imports of unwrought aluminium and aluminium products rose 10.4% in October from a year earlier.
Aluminium stocks at Japanese ports fell to 329,100 metric tons in October, a decrease of 3.6% from the previous month.
Copper
BUY COPPER NOV @ 992 SL 987 TGT 998-1002. MCX
Observations
Copper trading range for the day is 984.5-1006.7.
Copper fall pressured by a stronger dollar as Fed policymakers remained divided on a December interest rate cut LME copper stocks increased by 4,450 tons to 104,500 tons, the highest since October 1.
China's refined copper production in October jumped by 8.9% from the prior year to 1.2 million metric tons.
Zinc
BUY ZINC NOV @ 300 SL 298 TGT 302-304. MCX
Observations
Zinc trading range for the day is 296.2-304.8.
Zinc dropped after weak economic data from China fanned concerns over demand.
Some Fed policymakers have expressed concerns about inflation, questioning whether another rate cut before the end of the year is necessary.
U.S. said it would start to release economic data delayed by the government shutdown, including the September jobs report.
