Choice Commodity Research

Sumeet Bagadia’s Desk:Sell GOLDM|05NOV26 in Commodity @ 144320.00 SL 144661.00 TGT 143638.00

Lead Update According to customs data, in September 2026, China's refined lead imports were 9,602 mt. From January to September, combined imports of refined lead and lead products totaled 390,157 mt, up 219.94% YoY. Negative for lead prices. -Choice Broking

Silver Update Silver imports in India dipped for the second consecutive month, falling 49.11 per cent to USD 665.08 million. -Choice Broking

*Daily LME Stock Update* LME base metals inventories: copper 245,275 t, up 11,475 t; aluminum 236,125 t, down 100 t; zinc 167,825 t, up 1,500 t; lead 329,300 t, down 4,900 t. -Choice Broking

Sumeet Bagadia’s Desk:Sell NATURALGAS|23OCT26 CE 280.00 in Commodity @ 6.40 SL 9.40 TGT 0.05

Sumeet Bagadia’s Desk:Sell SILVERMIC|30NOV26 in Commodity @ 211515.00 SL 213555.00 TGT 207435.00

Copper Update Copper prices held a modest drop amid Chinese demand metrics remained steady alongside modest gains in September refining output. However, record 2027 European premiums from Codelco and Aurubis highlighted supply shortages outside the US, continue to drain global inventories. -Choice Broking

Crude oil Update IEA Executive Director Birol said the agency would consider additional releases from emergency oil reserves if necessary. Negative for crude oil prices. -Choice Broking

Weekly LME Funds' Net Positions: * Copper: Net long 33,600 lots, down 7,075 w/w. * * Aluminium: Net long 123,400 lots, down 1,573 w/w. * Zinc: Net long 36,300 lots, down 3,724 w/w. * Nickel: Net long 452 lots, down 4,606 w/w. * Lead: Net short 33,500 lots, up 1,446 w/w. -Choice Broking

Crude Oil Update Crude oil prices dropped after reports that the US and Iran gave preliminary approval to a mediation proposal. Meanwhile U.S. Secretary of State Rubio said oil shipments via the Strait of Hormuz are nearly unchanged from pre-war levels. -Choice Broking

Rupee Update The Indian rupee strengthened to a six-week high of 94.6 per dollar, driven by RBI dollar sales and anticipated Jio IPO inflows. While markets await RBI policy minutes, sustained high oil prices pose a potential risk to the currency. -Choice Broking

Dollar Index Update The US dollar index stabilized around 101.7 as surging oil prices triggered inflation fears and boosted safe-haven demand. Investors expect the Federal Reserve and Bank of Japan to hold interest rates next week, while European markets steadied following recent unrest. -Choice Broking

Sumeet Bagadia’s Desk : Exit @ 212839.00...Sell in Commodity SILVERMIC|30NOV26 @ 213348.00 SL 215310.00 TGT 209424.00

Global Market Snapshot Global markets traded mixed, with US equities mostly higher as the Nasdaq 100 gained 1.01%, while the S&P 500 rose 0.34% and the Dow remained nearly flat. Crude oil prices advanced, with WTI rising 1.34% to $99.13 and Brent gaining 1.43% to $110.35, while natural gas and heating oil also moved higher. In metals, gold edged down 0.17% to $4,135.50, silver fell 0.66% to $57.64, and platinum and palladium declined sharply, while copper gained 0.08%. The US dollar index stood at 101.60, up 0.07%, while the VIX fell 0.75%, indicating slightly improved market sentiment.

Sumeet Bagadia’s Desk:Sell SILVERMIC|30NOV26 in Commodity @ 213348.00 SL 215310.00 TGT 209424.00

Sumeet Bagadia’s Desk : Update on Book Part Profit : Exit at cost in GOLDM|05NOV26

Sumeet Bagadia’s Desk : Exit @ 6.00...Sell in Commodity NATURALGAS|23OCT26 CE 285.00 @ 6.35 SL 8.85 TGT 0.05