Sell Copper OCT @ 1394 SL ABOVE 1402 TGT 1384. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM OCT @323 SL BELOW 320 TGT 328. MCX
Observations
Aluminium trading range for the day is 321.50-328.50.
Aluminium dropped as China's primary aluminium production hit a record quarterly high in July to September.
Production rose 3.1% year-on-year to 3.91 million tons in September, but eased from a monthly record of 3.98 million tons in August.
Inventories in warehouses monitored by the Shanghai Futures Exchange fell 11% from last Friday
COPPER
SELL COPPER OCT @ 1394 SL ABOVE 1402 TGT 1384. MCX
Observations
Copper trading range for the day is 1374.50-1408.50.
Copper prices dropped after inventories rose and worries over supply declined.
LME inventories climbed by 11,475 tons, having gained 8% in a week.
Available stocks, those not earmarked for removal from warehouses, have also made sharp gains, up 40% in the same period.
ZINC
SELL ZINC OCT @ 425 SL ABOVE 428 TGT 420. MCX
Observations
Zinc trading range for the day is 417.00-429.50.
Zinc dropped as global refined zinc market is expected to swing to a surplus of 25.000 metric tons in 2027 from a deficit.
Chinese mine output is expected to rise month-on-month in October as operations resume.
LME cash contracts traded at a premium to three-month contracts, signalling tightness in immediate availability.
