Buy Aluminium Aug 2023 @ 198 SL 196 TGT 201-203 MCX - Kedia Advisory
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
To Read Complete Report & Disclaimer Click Here
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
