BUY COPPER OCT @ 695 SL 690 TGT 702-708. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 202.2-204.6.
Aluminium dropped as the outlook for the commodity worsened, with supply set to outweigh demand
LME stocks are currently sitting at 502,850 tonnes, a 12% increase from 447,250 tonnes at the beginning of the year
China exported 471,298.80 tonnes of unwrought aluminium and aluminium products, in September, down from August's 490,131.60 tonnes.
BUY ALUMINIUM OCT @ 201 SL 199 TGT 204-206. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 692.5-706.5.
Copper dropped after LME inventories climbed to the highest since October 2021.
China's central bank says it has ample room to support economy
China September copper imports at 480,426.4 tonnes
BUY COPPER OCT @ 695 SL 690 TGT 702-708. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 219-221.4.
Zinc dropped amid gloomy economic growth forecast and rising metal inventory.
China's Sept consumer prices flat, factory deflation persists
Global refined zinc markets are likely to see surpluses in both 2023 and 2024
BUY ZINC OCT @ 218 SL 215 TGT 222-224. MCX
