Buy Copper OCT @ 1420 SL 1410 TGT 1430-1440. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM OCT @ 330 SL 327 TGT 333-335. MCX
Observations
Aluminium trading range for the day is 328.8-334.8.
Aluminium dropped as concerns over supply disruptions from the Gulf region eased.
Pressure also seen as dollar hovered near an 18-month high ahead of key US inflation data due later this week.
Accelerating supply growth outside China is likely to push the global aluminium market into a surplus of 1.8 million tons in 2027 – CIT
COPPER
BUY COPPER OCT @ 1420 SL 1410 TGT 1430-1440. MCX
Observations
Copper trading range for the day is 1415.2-1432.6.
Copper dropped as dollar index holding near its highest level since April 2025 supported by escalating geopolitical tensions.
Production at the BHP-controlled Escondida mine tumbled 27.6% to 76,100 tons year-on-year in August
Comex Copper speculative net longs fell 17,244 contracts to 61,465
ZINC
BUY ZINC OCT @ 418 SL 415 TGT 422-426. MCX
Observations
Zinc trading range for the day is 414.2-426.4.
Zinc fell after LME warehouses stocks lifted to 132,850 tons, the highest since mid-2025.
However downside seen limited amid persistent supply tightness as Western smelter capacity shrinks.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange rose 1.8% from last release on Sep 30.
