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ALUMINIUM

OBSERVATIONS

Aluminium trading range for the day is 196.7-200.5.

Aluminium dropped as poor economic data from China continued to pressure the demand outlook

China's Yunnan province started ramping up energy-intensive aluminium production

Global primary aluminium output rose by 1.8% year on year in the first half of 2023

BUY ALUMINIUM SEP @ 197 SL 195 TGT 200-202. MCX

COPPER

OBSERVATIONS

Copper trading range for the day is 725.3-740.1.

Copper steadied boosted by a potential demand uplift from support for China's yuan

Investors are now shifting their focus to September and October, traditionally strong consumption months in China.

Copper inventories in warehouses monitored by the SHFE rose 3.5% from last Friday

BUY COPPER SEP @ 728 SL 724 TGT 733-737. MCX

ZINC

OBSERVATION

Zinc trading range for the day is 212.9-217.5.

Zinc gains as inventories in SHFE fell by 20.2% to a seven-month low.

Global zinc market surplus rises in June to 76,000 tons – ILZSG

The PMI in the euro zone exceeded expectations in August and recorded 43.7

BUY ZINC SEP @ 213 SL 211 TGT 216-218. MCX

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