Sell Copper OCT @ 1405 SL 1412 TGT 1396-1388. MCX - Kedia Advisory
ALUMINIUM
SELL ALUMINIUM OCT @ 342 SL 345 TGT 339-336. MCX
Observations
Aluminium trading range for the day is 335.8-347.2.
Aluminium dropped as prospects of improving supply and a stronger US dollar weighed on prices.
Global aluminium production declined by 1.5% year-on-year in August – IAI
Aluminium stocks on the SHFE decreased by 57,244 tonnes, indicating improved domestic availability in China.
COPPER
SELL COPPER OCT @ 1405 SL 1412 TGT 1396-1388. MCX
Observations
Copper trading range for the day is 1393.9-1415.9.
Copper settled flat as factory activity in China returned to growth.
RatingDog survey showed China’s factory activity expanded at a faster pace: its PMI measure rose to a five-month high of 52.1 from 51.5.
Chile's copper output falls 12.8% in August hit by weather conditions and ore grades
ZINC
SELL ZINC OCT @ 417 SL 420 TGT 414-411. MCX
Observations
Zinc trading range for the day is 410.4-425.8.
Zinc dropped as softening economic data from China weighed on the demand outlook.
Industrial profits in China increased 15.7% in the first eight months from a year earlier, slowing from a 17.6% rise during January-July
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange fell 1.8% from last Friday
