Buy Zinc Oct @ 264 SL 262 TGT 267-269. MCX - Kedia Advisory
ALUMINIUM
Observation
Aluminium trading range for the day is 226.4-232.6.
Aluminium gains helped by signs of better demand in China
China exported 143,268 tons of alumina last month, down 1.9% from a year earlier.
China's Aug aluminium imports up 1.9% y/y. ALUMINIUM NOV-OCT 1.70
BUY ALUMINIUM OCT @ 228 SL 226 TGT 231-233. MCX
COPPER
Observation
Copper trading range for the day is 806.7-834.7.
Copper dropped amid concerns about demand after a sharp contraction in Eurozone business activity
China exported 30,814 tons of refined copper in August, down 56% from the prior month.
China's refined copper production in August rose 0.9% from the prior year to 1.12 million metric tons
BUY COPPER OCT @ 817 SL 813 TGT 822-826. MCX
ZINC
Observation
Zinc trading range for the day is 261.6-269.4.
Zinc gains on optimism about further stimulus from China
Refined zinc imports in August 2024 were 26,500 mt, up 8,200 mt or 44.24% MoM
China unexpectedly leaving benchmark lending rates unchanged at the monthly fixing.
BUY ZINC OCT @ 264 SL 262 TGT 267-269. MCX
