Buy Copper OCT @ 955 SL 950 TGT 960-965. MCX - Kedia Advisory
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.
