Sell Copper Oct @ 837 SL 842 TGT 832-828. MCX - Kedia Advisory
ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 230.9-242.1.
Aluminium fell on profit booking after prices gained amid China’s economic support measures.
The premium of LME October aluminium over November hit $18 a metric ton from a premium of $5.85 about three weeks ago.
Global aluminium surplus seen at 200,000-300,000 T in 2025
SELL ALUMINIUM OCT @ 236 SL 238 TGT 234-232. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 819-860.
Copper fell after China failed to convince investors on how its stimulus would get the economy back on track.
Stocks in warehouses tracked by the SHFE have dropped nearly 60% since early June to 141,625 tons.
LME cash copper contract was trading at a discount of $149.50 a ton, the biggest discount since July 17
SELL COPPER OCT @ 837 SL 842 TGT 832-828. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 276.9-287.3.
Zinc dropped as a briefing from the NDRC in China signaled no additional stimulus measures
Chinese authorities announced plans to speed up special purpose bond issuances to support economic growth.
The global refined zinc market could see a 164,000 metric ton deficit in 2024
SELL ZINC OCT @ 282 SL 285 TGT 279-277. MCX
