Buy Zinc Nov @ 303 SL 301 TGT 305-307. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM NOV @ 264 SL 262 TGT 266-268. MCX
OBSERVATIONS
Aluminium trading range for the day is 262.8-268.
Aluminium gains helped by prospects of improved demand and limited output growth in China.
However, a strong dollar and concern about demand in China weighed on the market.
Global aluminium output rises 0.6% year on year in October – IAI
COPPER
BUY COPPER NOV @ 992 SL 987 TGT 997-1002. MCX
OBSERVATIONS
Copper trading range for the day is 990.6-1008.2.
Copper dropped amid caution in global markets and uncertainty over whether Fed will cut rates in December.
However downside were capped as Chile's state copper commission Cochilco lifted its price outlook to record levels.
China, imported 279,944 tons of copper cathodes in October, down 22.10% year-on-year and 15.65% on a monthly basis.
ZINC
BUY ZINC NOV @ 303 SL 301 TGT 305-307. MCX
OBSERVATIONS
Zinc trading range for the day is 300.4-308.8.
Zinc gains as the global zinc market surplus declined to 20,300 metric tons in September from 32,700 tons in August.
China's zinc exports surged in October as domestic smelters turned to overseas markets amid a dramatic squeeze on the LME.
Limited stockpiles pushed the spot zinc premium over the three-month zinc futures to over $300 a ton.
