Aluminium trading range for the day is 196.1-201.2 - Kedia Advisory
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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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