24-09-2024 10:43 AM | Source: Kedia Advisory
Buy Zinc Oct @ 264 SL 262 TGT 267-269. MCX - Kedia Advisory

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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

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