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ALUMINIUM

Observation

Aluminium trading range for the day is 228.8-239.4.

Aluminium gains on optimism about further stimulus from China following a jumbo U.S. interest rate cut.

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.

BUY ALUMINIUM OCT @ 234 SL 232 TGT 237-239. MCX

COPPER

Observation

Copper trading range for the day is 822.7-844.1.

Copper rallied after China unveiled a slate of easing measures to support the economy.

PBOC Gongsheng said in a rare briefing that the PBOC will cut the RRR by 50 basis points before the year ends.

Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 11.1% from last Friday.

BUY COPPER OCT @ 833 SL 828 TGT 838-842. MCX

ZINC

Observation

Zinc trading range for the day is 264.8-280.4.

Zinc gains after China unleashed wide-ranging stimulus measures to boost its flagging economy.

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 @ 273 SL 270 TGT 276-279. MCX