Aluminium trading range for the day is 196.4-198.6 - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 196.4-198.6.
Aluminum fell due to sluggish China post-pandemic recovery data.
Chinese property giant's debt issue raised doubts about a real estate recovery.
Russian aluminium in LME – registered warehouses rise to 81% in July
BUY ALUMINIUM AUG @ 195 SL 193 TGT 197-199. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 718.6-732.4.
Copper gains on low level recovery after pressure seen on worries over China's property sector.
Concerns about Country Garden's liquidity brought back into focus the troubled property sector
China's new bank loans tumbled in July and other key credit gauges also weakened
BUY COPPER AUG @ 723 SL 719 TGT 728-731. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 212.1-217.9.
Zinc dropped amid mounting concerns about the slow recovery in China.
S&P Global anticipates a moderate growth of 1.4% in the worldwide demand for refined zinc in 2023
Global refined zinc supply is expected to increase by 1.9%.
BUY ZINC AUG @ 215 SL 212 TGT 218-220. MCX
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