Buy Zinc Nov @ 300 SL 298 TGT 302-304. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM NOV @ 264 SL 262 TGT 266-268. MCX
OBSERVATIONS
Aluminium trading range for the day is 261.4-267.6.
Aluminium prices rose helped by prospects of improved demand and limited output growth in China.
Aluminium stocks at three major Japanese ports fell to 329,100 metric tons by the end of October.
Primary aluminium output in October reached 3.8mt (+0.4% year-on-year), but fell 9% from September.
COPPER
BUY COPPER NOV @ 1000 SL 995 TGT 1006-1010. MCX
OBSERVATIONS
Copper trading range for the day is 991.4-1009.8.
Copper nudged higher on short covering as market participants awaited the release of delayed U.S. job data.
Prices was still supported by supply concerns, sparked by mine disruptions worldwide.
Freeport-McMoRan said that it plans to resume production at Indonesia’s Grasberg mine by July 2026.
ZINC
BUY ZINC NOV @ 300 SL 298 TGT 302-304. MCX
OBSERVATIONS
Zinc trading range for the day is 299.8-305.2.
Zinc gains supported by persistently tight LME inventories and a mild rebound in physical premiums.
However, weak macroeconomic cues and mixed Chinese demand capped the upside as the week progressed.
Global refined zinc metal production is projected to rise 2.7% to 13.8 million mt in 2025.
