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ALUMINIUM

Observations

Aluminium trading range for the day is 197.7-203.9 

Aluminium dropped as smelters in Yunnan have gradually resumed production

Global factory activity remained in a slump in July

There will be a supply deficit of 191,750 tons in the global aluminum market this year

BUY ALUMINIUM Aug 2023 @ 198 SL 196 TGT 201-203. MCX

COPPER

Observations

Copper trading range for the day is 730.1-748.1

Copper dropped as weak data from China weighed on the demand outlook.

Chinese imports of less refined copper are increasing, though.

Yangshan copper premium, fell to $29 per metric ton, the lowest since May 18.

BUY COPPER Aug 2023 @ 734 SL 730 TGT 740-744. MCX

ZINC

Observations

Zinc trading range for the day is 219-228

Zinc dropped amid weak China manufacturing and lack of stimulus measures

Pledges from the Chinese authorities to boost the country's troubled property sector.

Global zinc market surplus falls to 53,000 metric tons in May – ILZSG

BUY ZINC Aug 2023 @ 220 SL 217 TGT 223-225. MCX

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