07-10-2024 09:29 AM | Source: Kedia Advisory
Sell Zinc Oct @ 289.5 SL 291 TGT 287-285. MCX - Kedia Advisory

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ALUMINIUM

Observation

Aluminium trading range for the day is 239.4-245.2.

Aluminium seen supported 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 @ 244 SL 246 TGT 242-240. MCX

 

 

COPPER

Observation

Copper trading range for the day is 845.5-865.1.

Copper gained on hopes of a rebound in demand after China's stimulus measures.

SHFE Copper inventories rose to 141,625 tons on Sept. 30

The LME cash copper contract was trading at a discount of $141.16 a ton against the three-month contract

 

SELL COPPER OCT @ 858 SL 863 TGT 852-848. MCX

 

ZINC

Observation

Zinc trading range for the day is 283.1-291.3.

Zinc prices gained amid China’s economic stimulus measures

The global refined zinc market could see a 164,000 metric ton deficit in 2024

Zinc inventories in SHFE dropped to 79,980 metric tons on Monday.

 

SELL ZINC OCT @ 289.5 SL 291 TGT 287-285. MCX

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