Buy ZINC OCT @ 415 SL 412 TGT 418-422. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM OCT @ 340 SL 337 TGT 343-345. MCX
Observations
Aluminium trading range for the day is 337.5-343.7.
Aluminium rose supported by an improving demand outlook after cooling interest rate expectations.
However upside seen limited amid easing worries about supply from Gulf and expectations of new production capacity in Indonesia.
Macquarie downgraded their forecast for this year's deficit in global aluminium market to 820,000 tons, down 120,000 tons from June estimate.
COPPER
BUY COPPER OCT @ 1408 SL 1400 TGT 1416-1422. MCX
Observations
Copper trading range for the day is 1406.4-1420.2.
Copper rose as fading prospects for a Fed rate hike outweighed pressure from a strong dollar.
BofA raises long-term copper forecast on tightening supply outlook
COMEX copper speculators lowered their net long positions by 3,940 contracts to 78,709.
ZINC
BUY ZINC OCT @ 415 SL 412 TGT 418-422. MCX
Observations
Zinc trading range for the day is 410.1-421.9.
Zinc gained supported by tightening supply and disruptions across major producing regions.
Smelter Nyrstar said it was launching a strategic review of its Dutch zinc smelting operations.
Japan's Mitsui Kinzoku plans to produce 117,700 metric tons of refined zinc in second half of the 2026 fiscal year, up 32% from a year ago.
