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ALUMINIUM

OBSERVATIONS

Aluminium trading range for the day is 240.5-247.5.

Aluminium dropped as domestic aluminum production increased by 2.74% YoY.

Entering December 2024, the ramp-up of new capacities and capacity resumptions are expected to further increase aluminum operating capacity.

Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange fell 1.5% from last Friday.

SELL ALUMINIUM DEC @ 245 SL 247 TGT 242-240. MCX

COPPER

OBSERVATIONS

Copper trading range for the day is 815.5-830.5.

Copper gains amid declines in Chinese inventories and concerns about supply of raw materials

Rio Tinto forecast higher copper production, mostly on an anticipated 50% output surge from its Mongolian assets.

SHFE registered another 10% decline in weekly data, bringing the total fall since early June to 71%.

SELL COPPER DEC @ 824 SL 829 TGT 818-814. MCX

ZINC

OBSERVATIONS

Zinc trading range for the day is 281.2-293.2.

Zinc dropped as smelter production slightly increased.

In December 2024, domestic refined zinc production will increase by over 20,000 mt MoM or about 5% MoM

The global zinc market deficit edged down to 79,500 metric tons in September from 85,000 tons in August

SELL ZINC DEC @ 287 SL 290 TGT 284-282. MCX