Buy Zinc Nov @ 286 SL 284 TGT 288-290. MCX - Kedia Advisory
ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 236.7-245.1.
Aluminium slipped amid signs of resilience in the US economy tempered expectations for aggressive Fed interest rate cuts.
LME data showed one large futures position at more than 40% of open interest to buy aluminium in December.
Goldman Sachs raised its 2025 aluminum price forecasts citing higher demand potential in top consumer China following stimulus measures.
BUY ALUMINIUM NOV @ 239 SL 237 TGT 241-243. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 837.4-851.4.
Copper dropped as traders awaited China to consider rolling out further stimulus measures.
The premium to import copper into China has also been falling and was at $48 a ton, the lowest since Aug. 5
Chile’s copper output increased 4.2% year-on-year in the month to 478,035 metric tons.
BUY COPPER NOV @ 840 SL 835 TGT 845-849. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 283.5-293.1.
Zinc prices retreated after stocks in LME registered rose for a third consecutive day
Chinese data suggesting poor demand prospects added to disappointment with economic stimulus measures
China’s industrial profits plunged in September, registering the steepest monthly decline of the year, owing to factors including weak demand
BUY ZINC NOV @ 286 SL 284 TGT 288-290. MCX
