Buy Copper Oct @ 838 SL 834 TGT 843-846. MCX - Kedia Advisory
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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
