Buy Zinc OCT @ 417 SL BELOW 415.5 TGT 419. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM OCT @324 SL BELOW 322 TGT 327. MCX
Observations
Aluminium trading range for the day is 321.50-328.50.
Aluminium gained as inventories in SHFE warehouses fell 11% from last Friday.
Aluminium is expected to swing into a surplus in 2027. potentially of more than 1 million metric tons
Emirates Global Aluminium and Aluminium Bahrain operations gradually recovered.
COPPER
BUY COPPER OCT @ 1400 SL BELOW 1394 TGT 1412. MCX
Observations
Copper trading range for the day is 1390.50-1415.50.
Copper gained as the US dollar weakened amid concerns over a potential slowdown in the Al capital expenditure boom.
Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 25.9% from last Friday.
BHP and the supervisors' union at Chile's Escondida mine agreed a 36-month labour contract, averting a strike.
ZINC
BUY ZINC OCT @ 417 SL BELOW 415.5 TGT 419. MCX
Observations
Zinc trading range for the day is 414.00-421.50.
Zinc prices gained as LME cash contracts trading at a premium to three-month contracts, tightness for nearby supply.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange 1.5% from last Friday, the exchange said.
However upside was capped weighed down by the prospect of increased Chinese zinc concentrate availability.
