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ALUMINIUM

Observations

Aluminium trading range for the day is 196.1-201.2

Aluminium dropped as worries persisted about lacklustre demand in China.

Also weighing on metals was more downbeat data from China

China's industrial profits extended this year's double-digit declines in June

SELL ALUMINIUM Aug 2023 @ 200 SL 202 TGT 197-195. MCX

COPPER

Observations

Copper trading range for the day is 725.5-750.5

Copper dropped as demand for imported copper into China has been declining

The discount for copper for nearby delivery on LME has jumped to a two-month peak

Chile's Cochilco cuts 2023 copper price forecast to $3.85/pound

SELL COPPER Aug 2023 @ 738 SL 743 TGT 732-728. MCX

ZINC

Observations

Zinc trading range for the day is 215-224 Zinc dropped after strong U.S. data left investors worrying

Global refined zinc supply is expected to increase by 1.9%.

The global zinc market surplus slipped to 53,000 metric tons in May, down from 64,000 tons a month earlier

SELL ZINC Aug 2023 @ 220 SL 222 TGT 217-215. MCX

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