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ALUMINIUM

OBSERVATIONS

Aluminium trading range for the day is 201.9-203.5.

Aluminium dropped as China's October 2023 aluminum production hit 3.641 million mt, up 6.7% YoY.

Global primary aluminium output in October rose 3.9% year on year to 6.116 million tonnes

Data showed that China imported 1.17 million mt of primary aluminum in January-October, up 173% YoY.

BUY ALUMINIUM DEC @ 202 SL 200 TGT 204-205. MCX

COPPER

OBSERVATIONS

Copper trading range for the day is 715.4-726.

Copper remained in range as China's imports of refined copper have quietly accelerated over recent months

China imported 353,000 metric tons of refined copper in October, which was the highest monthly volume this year.

Strike at MMG's Las Bambas copper mine in Peru to end on Thursday

BUY COPPER DEC @ 716 SL 712 TGT 720-724. MCX

ZINC

OBSERVATIONS

Zinc trading range for the day is 222.3-228.7.

Zinc dropped as China's refined zinc output in October, showed a growth of 11.14% MOM

However, downside seen limited on hopes that China will extend support measures for its economy.

The global zinc market swung to a deficit of 15,400 metric tons in September from a surplus of 28,000 tons in August

BUY ZINC DEC @ 223 SL 220 TGT 226-228. MCX