Sell Copper Nov @ 842 SL 846 TGT 837-832. MCX - Kedia Advisory
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Aluminium
Observations
Aluminium trading range for the day is 235.9-249.7.
Aluminium dropped on profit booking after prices rose supported by a tightening alumina market.
Exports of alumina raw material bauxite from Guinea Alumina Corporation (GAC) were suspended by Guinea.
LME data showed one large futures position at more than 40% of open interest to buy aluminium in December
SELL ALUMINIUM NOV @ 243 SL 245 TGT 241-239. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 826.9-853.9.
Copper steadied on hopes that China will announce more fiscal stimulus measures
China to allow recycled copper imports from Nov. 15
Expectations of strong copper demand driven by the shift toward cleaner energy raised concerns about a shortfall
SELL COPPER NOV @ 842 SL 846 TGT 837-832. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 284.7-303.3.
Zinc rose as the key spread on the LME jumped to a massive premium
The premium on cash LME zinc over the benchmark three-month contract jumped to $58 a ton
Operation at Australia's Century zinc has been suspended until mid-November
SELL ZINC NOV @ 293 SL 296 TGT 290-288. MCX
