Aluminium trading range for the day is 197.2-201.4 - Kedia Advisory
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ALUMINIUM
Observations
Aluminium trading range for the day is 197.2-201.4
Aluminium gains fuelled by expectations of Chinese stimulus
Rusal considers restart of aluminium smelter in Nigeria
Data shows aluminium ingot stocks across China down 18,000 mt from a week ago
BUY ALUMINIUM Aug 2023 @ 198 SL 196 TGT 201-203. MCX
COPPER.
Observations
Copper trading range for the day is 732.8-750.1
Copper edges higher on expectations of Chinese stimulus
Shanghai warehouse copper stocks down 21.3%
The discount for copper for nearby delivery on the London Metal Exchange over the three-month contract has jumped to a two-month peak
BUY COPPER Aug 2023 @ 740 SL 735 TGT 745-748. MCX
ZINC
Observations
Zinc trading range for the day is 217-224
Zinc gains amid hopes of a recovery in Chinese demand.
S&P Global predicts a modest 1.4% growth in global refined zinc demand for 2023
Global zinc market surplus falls to 53,000 metric tons in May – ILZSG
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