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ALUMINIUM

BUY ALUMINIUM NOV @ 327 SL BELOW 324 TGT 332. MCX

Observations

Aluminium trading range for the day is 325.50-335.00.

Aluminium gains after reports global inventories fell to 44 days of consumption, the lowest level in recent years, as demand remained strong.

Indonesia is expected to be a major contributor of new aluminium supply next year.

EGA has restarted 631 of 1,262 reduction cells at its Al Taweelah smelter, restoring 50% of capacity, with full production expected in Q1 2027.

COPPER

BUY COPPER NOV @ 1345 SL BELOW 1335 TGT 1360. MCX

Observations

Copper trading range for the day is 1333.00-1384.50.

Copper dropped on profit booking after prices rallied as investor sentiment was boosted by US midterm election results.

In China, the Yangshan premium, returned to $205 a ton, its highest in over a decade.

US September copper imports fall 3.1% from August

ZINC

BUY ZINC NOV @ 412 SL BELOW 408 TGT 418. MCX

Observations

Zinc trading range for the day is 408.00-422.50.

Zinc dropped as prospect of a recovery in Chinese mine production and improved concentrate availability could ease supply tightness.

Operational incidents at Korea Zinc, Glencore’s Kazzinc and YoungPoong’s Seokpo smelter have raised concerns about potential supply losses.

China's zinc ore imports have declined since April, squeezing raw material supply and sending treatment charges sharply lower