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ALUMINIUM

OBSERVATIONS

Aluminium trading range for the day is 236.3-247.7.

Aluminium prices rose supported by a tightening alumina market.

Goldman Sachs raises 2025 average aluminum price forecast to $2,700/t

Exports of alumina raw material bauxite from Guinea Alumina Corporation (GAC) were suspended by Guinea

SELL ALUMINIUM NOV @ 245 SL 247 TGT 242-240. MCX

COPPER

OBSERVATIONS

Copper trading range for the day is 827.9-846.9.

Copper dropped after stimulus measures from China failed to ease demand worry.

MMG says its Q3 total copper production reached 114,664 tonnes, a 22% increase vs a year ago and a 26% rise vs Q2

Peru's Las Bambas mine produced 90,595 tonnes of copper, making Q3 the strongest quarter since 2021

SELL COPPER NOV @ 840 SL 844 TGT 835-832. MCX

ZINC

OBSERVATIONS

Zinc trading range for the day is 279.4-293.8.

Zinc dropped on profit booking amid China's refined zinc production increased by over 2% MoM, in September 2024.

Smelters' production is expected to continue increasing in October

The global zinc market deficit increased to 66,300 metric tons in August from 51,000 tons in July

SELL ZINC NOV @ 289 SL 292 TGT 286-284. MCX