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Aluminium

OBSERVATIONS

Aluminium trading range for the day is 202.8-206.6.

Aluminium dropped as global production of primary aluminium hit an all-time high in August

Global production in August came in at 6.0 million metric tons, up 1.6% on August last year

Global aluminium output rises 2.4% year on year in August – IAI

BUY ALUMINIUM OCT @ 203 SL 201 TGT 206-208. MCX

Copper

OBSERVATIONS

Copper trading range for the day is 707.2-723.6.

Copper dropped amid strong dollar and high inventories

Inventories in LME-registered warehouses remained at their highest level since May 2022

Copper inventories in warehouses monitored by SHFE fell 16.9% from last Friday.

BUY COPPER OCT @ 712 SL 708 TGT 716-720. MCX

Zinc 

OBSERVATIONS 

Zinc trading range for the day is 222.9-226.9.

Zinc fell as risk sentiment was dampened and buying slowed ahead of a long public holiday in r China.

The zinc ingot social inventories across seven major markets in China totalled 91,400 mt

Markets in China, will be shut for public holidays during Sept. 29-Oct. 6.

BUY ZINC OCT @ 223 SL 220 TGT 226-228. MCX