Sell Aluminium Oct @ 267 SL 269 TGT 265-263. MCX - Kedia Advisory
ALUMINIUM
SELL ALUMINIUM OCT @ 267 SL 269 TGT 265-263. MCX
Observations
Aluminium trading range for the day is 263.7-266.9.
Aluminium gains as Century Aluminium said its smelter in Iceland was forced to curtail production by two thirds.
Global aluminium output rises 0.9% year on year in September – IAI
China aluminium production up 1.8 % to 3.81 mln metric tons in Sept
COPPER
SELL COPPER OCT @ 995 SL 1001 TGT 988-984. MCX
Observations
Copper trading range for the day is 977.8-998.8.
Copper gained amid expectations of China's new five-year plan.
China's copper output in September was down 2.7% month-on-month, despite a 10% jump year-on-year.
Antofagasta sees annual copper output at lower end of guidance.
ZINC
SELL ZINC OCT @ 300 SL 302 TGT 298-296. MCX
Observations
Zinc trading range for the day is 294.3-306.9.
Zinc dropped on profit booking after prices gained on hopes that China will unleash more stimulus.
Cash zinc contracts traded at a $279-a-ton premium to three-month futures, near a multi-decade high above $300 struck on Tuesday.
Zinc production at Golden Grove mine drops to 2.0 kt from 19.1 kt from prior year.
