Buy Zinc Dec @ 277 SL 275 TGT 280-282. MCX - kedia Advisory
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Aluminium
OBSERVATIONS
Aluminium trading range for the day is 241-246.2.
Aluminium gains amid lower supply from major producers, while markets continued to assess Chinese stimulus.
Concerns over insufficient stimulus measures from China, weighed on the demand outlook.
China’s alumina production totaled around 7.4 million tons in October, growing by 5.4%.
BUY ALUMINIUM DEC @ 243 SL 241 TGT 245-247. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 797.1-814.5.
Copper dropped pressured by a stronger dollar and risk-averse sentiment due to the escalating conflict in the Ukraine-Russia war.
Physical copper demand showed a slight uptick , as indicated by a modest decline in SHFE inventories.
The global refined copper market showed a 131,000 metric tons deficit in September – ICSG
BUY COPPER DEC @ 802 SL 798 TGT 807-810. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 274.9-283.1.
Zinc prices dropped after data showed a tumble in euro zone business activity.
The global zinc market deficit edged down to 79,500 metric tons in September from 85,000 tons in August - ILZSG
Shanghai bonded zone zinc ingot inventory was 10,500 mt, up 500 mt WoW.
BUY ZINC DEC @ 277 SL 275 TGT 280-282. MCX
