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08-10-2023 11:34 AM | Source: Kedia Advisory
Aluminium trading range for the day is 199.1-202.3 - Kedia Advisory
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ALUMINIUM

Observations

Aluminium trading range for the day is 199.1-202.3

Aluminium gains as China's central bank to guide more financial support

Yunnan region is maintaining resumption of production.

Downstream construction on the demand side has rebounded, with positive expectations on the demand side boosted by policies.

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

 

COPPER

Observations

Copper trading range for the day is 727.4-738.9

Copper gains as China’s consumer inflation dropped 0.3% in July

Chinese authorities pledged to ramp up policy support to boost a flagging economy

China’s year-to-date copper imports slid by 10.7% to reflect a sharp downturn in demand for industrial inputs

BUY COPPER AUG 2023 @ 726 SL 722 TGT 732-736. MCX

 

ZINC

Observations

Zinc trading range for the day is 220-225

Zinc gains as LME cash zinc contract was at $30.25 indicating supply tightness.

Further support seen amid raising hopes for more stimulus measures from the Chinese government.

However, worries about the global economy flared up after Chinese imports and exports contracted

BUY ZINC AUG 2023 @ 219 SL 217 TGT 223-225. MCX

 

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