SELL COPPER DEC @ 716 SL 720 TGT 712-708. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 193.1-196.5.
Aluminium gains amid hopes of more economic stimulus from top metals consumer China.
The discount for cash aluminium against the three-month contract reached its three-month high of $47 per ton.
China’s primary aluminium production totaled 3.62 million tons in October, up by 6%
SELL ALUMINIUM DEC @ 196 SL 198 TGT 194-192. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 709.5-720.1.
Copper steadied as Peru's copper production rose 1.9% in October
Some support seen amid prospect of tighter supply next year and hopes of more economic stimulus from China.
Combined refined copper inventories in SHFE and China's bonded warehouses dropped to 39,342 tons from 316,176 tons at the end of the first quarter.
SELL COPPER DEC @ 716 SL 720 TGT 712-708. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 216.7-220.7.
Zinc gains as markets continued to assess Chinese and US manufacturing health for insights on global demand.
Support also seen amid hopes of economic recovery in top consumer China after a set of stimulus measures from Beijing
The global zinc market swung to a deficit of 15,400 metric tons in September from a surplus of 28,000 tons in August
SELL ZINC DEC @ 219 SL 221 TGT 216-214. MCX
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