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ALUMINIUM

OBSERVATIONS

Aluminium trading range for the day is 200-204.

Aluminium gains as ANZ anticipates a shift in the aluminum market towards a deficit

Supply pressures are escalating due to China's halting of production capacity beyond the current limit of 45 million tons

China Hongqiao shifts 1.5 mln T aluminium capacity to Yunnan so far 

SELL ALUMINIUM SEP @ 203 SL 206 TGT 200-198. MCX

COPPER

OBSERVATIONS

Copper trading range for the day is 727.3-738.5.

Copper gains as Beijing issuing supporting measures to revive a property market.

Copper major Chinese markets stood at 95,100 mt, down 5,400 mt from last Friday

China's copper cathode output in August was 989,000 mt, an increase of 63,100 mt or 6.8% month-on-month

SELL COPPER SEP @ 735 SL 740 TGT 730-727. MCX 

ZINC

OBSERVATIONS

Zinc trading range for the day is 218.1-226.7.

Zinc prices gains amid continued decline in inventories.

Support also seen amid the expected reduction in overseas zinc concentrate production.

In August 2023, China's refined zinc output was 526,500 mt, a decrease of 24,600 mt or 4.46% month on month

SELL ZINC SEP @ 223 SL 226 TGT 219-217. MCX