Buy Zinc OCT @ 298 SL 296 TGT 300-302. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM OCT @ 264 SL 262 TGT 266-268. MCX
OBSERVATIONS
Aluminium trading range for the day is 262.9-268.3.
Aluminium dropped on profit booking after prices rallied as Century Aluminium said its smelter in Iceland was forced to curtail production.
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange fell 3.2% from last Friday.
China aluminium production up 1.8 % to 3.81 mln metric tons in Sept
COPPER
BUY COPPER OCT @ 992 SL 988 TGT 996-1000. MCX
OBSERVATIONS
Copper trading range for the day is 983.1-1004.5.
Copper rose after the White House confirmed a meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping.
Indonesia may allow copper miner Amman Mineral International to export copper concentrate, after banning concentrate exports last year.
Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 4.9 % from last Friday.
ZINC
BUY ZINC OCT @ 298 SL 296 TGT 300-302. MCX
OBSERVATIONS
Zinc trading range for the day is 294.3-305.1.
Zinc gains on hopes that top metals consumer China will unleash more stimulus in its new five-year plan.
The global zinc market surplus climbed to 47,900 metric tons in August from 38,700 tons in July.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange fell 0.4% from last Friday.
