Sell Zinc Nov @ 289 SL 292 TGT 286-284. MCX - Kedia Advisory
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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
More News
MCX Copper is expected to weaken further towards 692 levels - ICICI Direct
