Sell Aluminium Oct @ 241 SL 243 TGT 238-236. MCX- Kedia Advisory
ALUMINIUM
Observation
Aluminium trading range for the day is 235.8-242.8.
Aluminium prices rose as China stimulus provided a strong cushion.
The market is expected to tighten as demand rises outside China, BofA said.
The discount for LME cash aluminium to the three-month contract reached $2.80 a ton, its lowest since late April.
SELL ALUMINIUM OCT @ 241 SL 243 TGT 238-236. MCX
COPPER
Observation
Copper trading range for the day is 842.4-869.4.
Copper gains as copper output at Freeport's Manyar smelter delayed until November
SHFE Copper inventories rose to 141,625 metric tons on Monday.
Global refined copper market showed a 91,000 metric tons surplus in July, compared with a 113,000 in June.
SELL COPPER OCT @ 859 SL 864 TGT 854-850. MCX
ZINC
Observation
Zinc trading range for the day is 280.3-287.3.
Zinc gains as economic stimulus measures by China spurred a recovery.
The global refined zinc market could see a 164,000 metric ton deficit in 2024
Zinc inventories in SHFE dropped to 79,980 metric tons on Monday.
SELL ZINC OCT @ 286 SL 288 TGT 283-280. MCX
