IGI Logo

ALUMINIUM

BUY ALUMINIUM OCT @ 258 SL 256 TGT 260-262. MCX

OBSERVATIONS

Aluminium trading range for the day is 257.9-260.3.

Aluminium dropped as China's manufacturing activity shrank for a sixth month in September.

However downside seen limited due to persistent threats to supply.

Global primary aluminium output in August rose 0.9% year on year to 6.277 million tonnes – IAI

COPPER

BUY COPPER OCT @ 955 SL 950 TGT 960-965. MCX

OBSERVATIONS

Copper trading range for the day is 944.2-966.

Copper gains on mine supply disruptions and weaker U.S. dollar.

Freeport’s Grasberg force majeure ends copper’s prolonged rangebound trading.

Chile’s copper output drops 9.9% in August, sharpest in years.

ZINC

BUY ZINC OCT @ 289 SL 287 TGT 291-293. MCX

OBSERVATIONS

Zinc trading range for the day is 286.7-292.3.

Zinc prices rise as LME stocks drop sharply over 5% in last 3 days.

Zinc inventories in warehouses monitored by the Shanghai Futures Exchange dropped 2.5% from last Friday.

Teck’s Red Dog and Nyrstar announce major production cuts this year.