Sell Aluminium Oct @ 241 SL 243 TGT 238.5-237. MCX - Kedia Advisory
Aluminium
Observations
Aluminium trading range for the day is 235.4-241.8.
Aluminium prices rose as the cost of raw material alumina set arecord high, increasing production costs.
Global aluminium output rises 1.3% year on year in September.
Hydropower supply in the southwestern Yunnan provinceremained sufficient amid improved rainfall during the summerseason.
SELL ALUMINIUM OCT @ 241 SL 243 TGT 238.5-237. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 811.6-825.2.
Copper climbed after China’s central bank reduced benchmarklending rates to record lows, boosting the economic outlook.
The People’s Bank of China lowered its one- and five-year loanprime rates by 25 basis points to 3.1% and 3.6%, respectively.
Expectations of strong copper demand driven by the shift towardcleaner energy raised concerns about a shortfall.
SELL COPPER OCT @ 820 SL 824 TGT 816-810. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 280.5-294.9.
Zinc gains after China’s central bank slashed benchmark lendingrates to record lows, lifting the demand outlook.
China’s economy grew more than expected in the third quarter,but at the slowest pace since the first quarter of 2023.
PBOC moved to support China’s equity market and announcedthat it could lower banks’ reserve requirements again before theyear ends.
SELL ZINC OCT @ 291 SL 294 TGT 288-286. MCX
