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