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ALUMINIUM

Observation

Aluminium trading range for the day is 222.8-234.4.

Aluminium dropped as global aluminium output rises 1.2% year on year in August

China exported 143,268 tons of alumina last month, down 1.9% from a year earlier.

China's Aug aluminium imports up 1.9% y/y.

SELL ALUMINIUM SEP @ 228 SL 230 TGT 225-222. MCX

COPPER

Observation

Copper trading range for the day is 801-823.6.

Copper dropped on profit booking after seen supported on optimism about further stimulus from China.

China exported 30,814 tons of refined copper in August, down 56% from the prior month.

China's refined copper production in August rose 0.9% from the prior year to 1.12 million metric tons

SELL COPPER SEP @ 812 SL 817 TGT 806-802. MCX

ZINC

Observation

Zinc trading range for the day is 261.5-273.1.

Zinc dropped as SHFE inventories rose by 4.8% from last Friday.

Refined zinc imports in August 2024 were 26,500 mt, up 8,200 mt or 44.24% MoM

China unexpectedly leaving benchmark lending rates unchanged at the monthly fixing.

SELL ZINC SEP @ 268 SL 270 TGT 265-263. MCX