IGI Logo

ALUMINIUM

Observation

Aluminium trading range for the day is 229.6-239.

Aluminium dropped on some profit-taking which kicked in after China unveiled support measures.

China exported 143,268 tons of alumina last month, down 1.9% from a year earlier.

China's Aug aluminium imports up 1.9% y/y.

BUY ALUMINIUM OCT @ 232 SL 230 TGT 235-237. MCX

COPPER

Observation

Copper trading range for the day is 829.8-849.6.

Copper rallied after China unveiled a slate of easing measures to support the economy.

PBOC Gongsheng said in a rare briefing that the PBOC will cut the RRR by 50 basis points before the year ends.

Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 11.1% from last Friday.

BUY COPPER OCT @ 838 SL 834 TGT 843-846. MCX

ZINC

Observation

Zinc trading range for the day is 270.7-278.9.

Zinc dropped on profit booking after prices gained after China unleashed wide-ranging stimulus measures

Refined zinc imports in August 2024 were 26,500 mt, up 8,200 mt or 44.24% MoM

China unexpectedly leaving benchmark lending rates unchanged at the monthly fixing.

BUY ZINC OCT @ 273 SL 270 TGT 276-279. MCX