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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