Buy Zinc OCT @ 218 SL 215 TGT 222-224. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 200.9-202.9.
Aluminium dropped as the outlook for the commodity worsened, with supply set to outweigh demand
LME stocks are currently sitting at 502,850 tonnes, a 12% increase from 447,250 tonnes at the beginning of the year
China exported 471,298.80 tonnes of unwrought aluminium and aluminium products, in September, down from August's 490,131.60 tonnes.
BUY ALUMINIUM OCT @ 201 SL 199 TGT 204-206. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 692.5-704.1.
Copper fell amid concerns of lower demand and higher inventories.
Expectations that the US economy has shifted to a new norm of higher interest rates raised worries that industrial growth may slow.
A sharp rise in copper inventories this month weighed against heightened concerns of shortages in the long term.
BUY COPPER OCT @ 697 SL 693 TGT 703-708. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 216.5-220.7.
Zinc settled flat amid gloomy economic growth forecast and rising metal inventory.
China's Sept consumer prices flat, factory deflation persists
Global refined zinc markets are likely to see surpluses in both 2023 and 2024
BUY ZINC OCT @ 218 SL 215 TGT 222-224. MCX
