Sell Aluminium Nov@ 275 SL 277 TGT 273-271. MCX - Kedia Advisory
ALUMINIUM
SELL ALUMINIUM NOV @ 275 SL 277 TGT 273-271. MCX
OBSERVATIONS
Aluminium trading range for the day is 271-276.2.
Aluminium gains amid a backdrop of tight supply in the near term and bullish longer term demand.
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange fell 3.89% from last Friday.
Global primary aluminium output in September rose 0.9% year on year to 6.08 million tonnes
COPPER
SELL COPPER NOV @ 1014 SL 1020 TGT 1008-1000. MCX
OBSERVATIONS
Copper trading range for the day is 1004.4-1016.
Copper slipped amid weak demand signals and a stronger dollar temporarily.
China’s official PMI pointed to a 7th consecutive contraction in the factory activity.
Major producers such as Glencore and Anglo American reported lower output in the first nine months of the year.
ZINC
SELL ZINC NOV @ 306 SL 309 TGT 303-300. MCX
OBSERVATIONS
Zinc trading range for the day is 299.9-306.9.
Zinc gains amid as easing trade tensions between the China and the U.S. and hopes for stronger growth and demand spurred buying.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange fell 5.27% from last Friday
Global refined zinc metal production is projected to rise 2.7% to 13.8 million mt in 2025.
