Category Archives: MCX base Metals Trading range for today

MCX Base Metals Trade Under Pressure Today

After boom yesterday’s MCX Base metals are trading under pressure today .However Copper has managed to make the edge.This half year copper has seen an increase at around 7 percent and its prices are at a 3-month high.

However, the best performer has proved to be a lead, because this half year has seen an increase of about 14 percent.

However today the lead is trading below 1 percent. On the MCX, Aluminum has dropped 0.1 percent to Rs 125, while Copper is growing at 0.2 percent and is looking at around Rs 385. MCX zinc is trading up 0.3% at Rs 180 today.

MCX Copper Aluminium Udpates and Copper Calls and Trading levels

MCX Copper Updates

Copper trading range for the day is 325-331.4.Copper dropped on profit booking after prices gained amid as Chinese economic data pointing to robust demand for industrial metals. Chinas official Purchasing Managers Index (PMI) expanded at the fastest pace in more than two years in October, figures showed. Codelco, the worlds biggest copper producer, has cut its premiums for European sales to their lowest level since 2010, reports showed.

@Intraday Trader can Buy MCX Copper at around 328.5 targets 330, 331.5 Srop loss 326.

MCX Aluminium Updates: 

Aluminium trading range for the day is 112.8-116.Aluminium prices dropped on profit booking after a tightening U.S. presidential race sparked a bout of risk aversion.Prices for the metal remained benefited in recent session from shortage fears after stockpiles slipped to 12-year lows. LME aluminium stocks fell 3,200 tonnes to 2,137,350 tonnes but cancelled warrants jumped 6,025 tonnes, a move centred on Asia.