Buy Copper Oct @ 994 SL 990 TGT 998-1002. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM OCT @ 261 SL 259 TGT 263-265. MCX
OBSERVATIONS
Aluminium trading range for the day is 257.5-264.1.
Aluminium gains supported by both supply concerns and strong demand as operating rates improve.
Support also seen due to persistent threats to supply.
Goldman Sachs cuts 2026 Q4 LME price forecast to $2,350/T from $2,700.
COPPER
BUY COPPER OCT @ 994 SL 990 TGT 998-1002. MCX
OBSERVATIONS
Copper trading range for the day is 983.7-1006.3.
Copper prices rose on concerns over supply from Chile and Indonesia.
Chile's copper output fell 9.9% year-on-year in August after an accident at Codelco's flagship mine on July 31.
Chile exported $4.39 billion worth in September, down 2.03% from the same month a year earlier.
ZINC
BUY ZINC OCT @ 295 SL 293 TGT 297-299. MCX
OBSERVATIONS
Zinc trading range for the day is 289.7-300.5.
Zinc rose tracking LME prices above $3,015 per tonne mark for the first time this year, amid compounding threats to supply.
Output for Mitsui Mining expects a 6.6% annual decline in refined zinc output during the second half the financial year.
Open stocks of high-grade zinc at the London Metals Exchange plummeted to 30,000 tonnes, compared to 171,500 at the start of the year.
