Buy Copper Oct @ 1000 SL 995 TGT 1005-1008. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM OCT @ 264 SL 262 TGT 266-268. MCX
OBSERVATIONS
Aluminium trading range for the day is 261.5-269.9.
Aluminium rose driven by tightening supply and falling inventories.
Marex positioning estimates show the largest speculative long in LME aluminium since June 2024.
On-warrant stocks dropped 15% in a month to 398,775 t, highlighting strong demand.
COPPER
BUY COPPER OCT @ 1000 SL 995 TGT 1005-1008. MCX
OBSERVATIONS
Copper trading range for the day is 984.8-1035.6.
Copper on MCX hits all time high of 1026.45 tracking LME prices hits $11,000 a ton for first time since May 2024
Support seen as widespread disruption at mines sparks fears of a shortage of supply and attracts speculative inflows.
The ICSG cut its 2025 market surplus estimate on Wednesday to 178,000 tons from 289,000 tons.
ZINC
BUY ZINC OCT @ 293 SL 291 TGT 295-297. MCX
OBSERVATIONS
Zinc trading range for the day is 290.1-302.3.
Zinc prices rose to 300 level with investors in China returning from a week-long holiday, and concerns over supply.
Smelter output was also due to drop in Japan with the closure of the key Toho Zinc Annaka plant.
Ivanhoe Mines produced a record 57,200 tons of zinc in the third quarter from its flagship Kamoa-Kakula and Kipushi mines.
