IGI Logo

ALUMINIUM

SELL ALUMINIUM NOV @ 333 SL ABOVE 336 TGT 329. MCX

Observation

Aluminium trading range for the day is 326.50-334.00.

Aluminium gained as inventories in warehouses monitored by the SHFE fell 10.3% from last Friday

However upside was capped amid stronger dollar, and persistent concerns over a CY27 global surplus.

EGA has restarted 631 of 1,262 reduction cells at its Al Taweelah smelter, restoring 50% of capacity.

COPPER

SELL COPPER NOV @ 1395 SL ABOVE 1402 TGT 1385. MCX

Observations

Copper trading range for the day is 1371.50-1403.50.

Copper recouped losses on supply concerns and lower oil prices.

Chile's copper commission Cochilco sharply lowered its 2026 output forecast from the world's largest copper producer.

In China, tight supply has the closely watched Yanghshan premium climb to $200 a ton, close to its highest level in over a decade.

ZINC

SELL ZINC NOV @ 420 SL ABOVE 423 TGT 416. MCX

Observations

Zinc trading range for the day is 402.00-426.50.

Zinc gained as China’s manufacturing activity remained in expansion territory in October.

Support also seen amid worries about mine supply and shortages outside China.

Zinc inventories in warehouses monitored by the Shanghai Futures Exchange fell 1.6% from last Friday, the exchange said.