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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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