Buy Zinc NOV @ 410 SL BELOW 407 TGT 415. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM NOV @ 328 SL BELOW 325 TGT 335. MCX
Observations
Aluminium trading range for the day is 329.00-331.50.
Aluminium dropped amid concerns over improving global supply prospects and expectations of a potential market surplus in 2027.
Global inventories fell to 44 days of consumption, the lowest level in recent years, as demand remained strong.
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange fell 30.6% from last Friday.
COPPER
BUY COPPER NOV @ 1335 SL BELOW 1330 TGT 1348. MCX
Observations
Copper trading range for the day is 1331.50-1347.00.
Copper settled flat as a rout in technology stocks battered markets.
The closely watched Yangshan copper premium, increased to $210 a ton, its joint highest since 2012.
Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 24.1 %.
ZINC
BUY ZINC NOV @ 410 SL BELOW 407 TGT 415. MCX
Observations
Zinc trading range for the day is 409.00-414.00.
Zinc settled flat weighed down by a rout in technology stocks, although supply concerns limited the downside.
Pressure also seen as prospect of a recovery in Chinese mine production and improved concentrate availability could ease supply tightness.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange fell 6.3% from last Friday.
