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ALUMINIUM

Observation

Aluminium trading range for the day is 228.2-235.8.

Aluminium gains after Fed’s interest rate cut weakened the dollar and gave support to prices.

Prices have been boosted by a shrinking aluminium supply that has fallen to its lowest in 18 weeks.

China's imports of unwrought aluminium and aluminium products increased 1.9% in August to 280,000 metric tons year-on-year

SELL ALUMINIUM SEP @ 233 SL 235 TGT 230-228. MCX

COPPER

Observation

Copper trading range for the day is 802.6-825.2.

Copper rose amid and hopes of more robust demand, in addition to uncertain supply.

Fed delivered a 50bps rate cut in the month’s meeting, matching the upper range of divided market bets.

On the supply front, energy shortages in Zambia pressured output from one of the world’s main copper ore suppliers.

SELL COPPER SEP @ 818 SL 823 TGT 812-808. MCX

ZINC

Observation

Zinc trading range for the day is 265.2-272.6.

Zinc gains driven by optimism for potential stimulus measures in China

Swedish miner Boliden delayed its Odda zinc smelter expansion in Norway, now expected to be completed in 2025

The global zinc market surplus declined to 14,000 metric tons in July from 36,400 tons in June - ILZSG

SELL ZINC SEP @ 271 SL 274 TGT 268-266. MCX