Buy Copper OCT @ 1394 SL BELOW 1386 TGT 1408. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM OCT @325 SL BELOW 322 TGT 330. MCX
Observations
Aluminium trading range for the day is 320.50-329.50.
Aluminium dropped as China's primary aluminium production hit a record quarterly high over July to September
China aluminium production up 3.1% to 3.91 min metric tons in Sept-stats bureau
Inventories in warehouses monitored by the Shanghai Futures Exchange fell 11% from last Friday
COPPER
BUY COPPER OCT @ 1394 SL BELOW 1386 TGT 1408. MCX
Observations
Copper trading range for the day is 1381.00-1412.00.
Copper prices rose on supported by swelling US inventories and a more bullish price outlook from Goldman Sachs.
Goldman Sachs raised its end-2026 copper price forecast to $14,700 a ton and its 2027 average to $15,400, citing weaker mine supply.
Available copper stocks in LME rose to a two-month high of 147,450 tons after 8,225 tons of inflows into US warehouses.
ZINC
BUY ZINC OCT @ 422 SL BELOW 418 TGT 428. MCX
Observations
Zinc trading range for the day is 416.50-429.50.
Zinc gained as LME cash contracts traded at a premium to three-month contracts, signalling tightness in immediate availability.
China's zinc social inventory declined, reducing the overhang in the world's largest consumer market.
Chinese mine output is expected to rise month-on-month in October as operations resume at mines previously disrupted by accidents and safety inspections.
