Sell Aluminium OCT @ 212 SL 214 TGT 209-207. MCX
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Aluminium
OBSERVATIONS
Aluminium trading range for the day is 206-215.2.
Aluminium rose amid a decline in exchange stocks and the dollar weakened.
On-warrant aluminium stocks in LME-registered warehouses fell to 173,875 metric tons, their lowest since August 2022
Japan's primary aluminium imports fell 16% from a year ago to 95,630 metric tons in August
SELL ALUMINIUM OCT @ 212 SL 214 TGT 209-207. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 715.5-732.7.
Copper gains as market players flagged large incoming copper deficits
Chile copper output production up 2.7% in August
LME copper inventories leaped 140% so far this quarter to 167,825 tons, the biggest quarterly increase in 18 years.
SELL COPPER OCT @ 722 SL 727 TGT 715-710. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 229.4-234.4.
Zinc gains amid positive data and stimulus measures from China and expectations of reduced production.
The recent figures showed China took in 76,800 metric tons of metal in July, the highest monthly tally since April 2019.
China's domestic output of refined zinc this year has risen, but the market remained impacted by dwindling inventory levels
SELL ZINC OCT @ 232 SL 236 TGT 226-222. MCX
