Buy Zinc NOV @ 218 SL 215 TGT 221-223. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 202.5-206.1.
Aluminium dropped as Global primary aluminium output in September rose 2.7% year on year
Stocks of aluminium in LME warehouses at 480,250 tons have dropped nearly 20% since early June.
Canceled warrants or metal earmarked for delivery at 57% of total stocks suggests more aluminium is due to leave the LME system
BUY ALUMINIUM NOV @ 202 SL 200 TGT 205-207. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 695.4-706.
Copper settled flat amid stronger dollar and further signs of stagnating euro zone economy
The global refined copper market showed a 33,000 metric tons deficit in August
China's copper cathode output in September was 1.01 million mt, an increase of 2.3% month-on-month
BUY COPPER NOV @ 698 SL 694 TGT 703-708. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 218.5-223.3.
Zinc prices dropped as weak demand was highlighted by delivery to LME warehouses.
The global zinc market surplus widened to 22,000 metric tons in August from 2,900 tons a month earlier
Beijing stated it would widen its budget for the year to borrow an extra CNY 1 trillion and focus on manufacturing investments
BUY ZINC NOV @ 218 SL 215 TGT 221-223. MCX
