Buy Zinc OCT @ 417 SL 414 TGT 420-423. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM OCT @ 341 SL 338 TGT 344-347. MCX
Observations
Aluminium trading range for the day is 338.4-350.8.
Aluminium dropped as prospects of improving supply and a stronger US dollar weighed on prices.
Several smelters are working to restart and bring previously idled capacity back online.
Rising Chinese exports are also helping to offset some of the supply losses from the Gulf.
COPPER
BUY COPPER OCT @ 1395 SL 1385 TGT 1405-1415. MCX
Observations
Copper trading range for the day is 1391.1-1413.7.
Copper prices dropped amid strong dollar, and concerns about demand in China continued to weigh on sentiment.
COMEX inventories have risen for six straight days to over 700,000 tons for the first time.
Restocking activities before China's seven-day National Day holiday that's set to begin on Thursday are slowing, adding to demand worry
ZINC
BUY ZINC OCT @ 417 SL 414 TGT 420-423. MCX
Observations
Zinc trading range for the day is 414.4-423.2.
Zinc gains supported by tightening supply and disruptions across major producing regions.
However upside was capped as softening economic data from China weighed on the demand outlook.
Smelter Nyrstar said it was launching a strategic review of its Dutch zinc smelting operations.
