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ALUMINIUM

OBSERVATIONS

Aluminium trading range for the day is 205.9-211.5.

Aluminium rose as smelters in China's Yunnan province trimmed production

Global aluminium production has ramped up this year as smelters come back on line in Europe

Market surpluses of 338,000 tons this year and 250,000 tons in 2024, an about-face from deficits 191,750 tons

SELL ALUMINIUM NOV @ 210.5 SL 212.5 TGT 208-206. MCX

COPPER

OBSERVATIONS

Copper trading range for the day is 708.7-717.5.

Copper gains as a softer dollar and China committing to boost its imports spurred fund buying.

Copper stocks in the LME-registered warehouses rose after their recent decline

Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 11.3% this week

SELL COPPER NOV @ 715 SL 719 TGT 710-706. MCX

ZINC

OBSERVATIONS

Zinc trading range for the day is 221.7-229.9.

Zinc prices rose as Nyrstar plans to temporarily close two zinc mines.

Global zinc market surplus widens in August – ILZSG

The global zinc market to show a surplus of 148,000 metric tons this year and 238,000 tons in 2024.

SELL ZINC NOV @ 227.5 SL 229.5 TGT 225-223. MCX