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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