Buy Aluminium Jul 2023 @ 198 Sl 196 TGT 201-203. MCX - Kedia Advisory
ALUMINIUM
Observations
Aluminium trading range for the day is 194.9-202.4
Aluminium prices rise on weaker dollar and China demand hopes
Aluminium inventories in LME-registered warehouses fell to 531,725 metric tons after 2,350 tons of outflows
Japanese buyer agrees to pay Q3 aluminium premium of $127.5/T
BUY ALUMINIUM Jul 2023 @ 198 SL 196 TGT 201-203. MCX
COPPER
Copper trading range for the day is 714.4-736.2
Copper gains as output in top producer Chile sank 14% annually in May
China's June copper cathode output jumped 14% from a year ago.
The higher global prices led to a continual unfavorable import condition for buyers in China.
BUY COPPER Jul 2023 @ 725 SL 721 TGT 730-734. MCX
ZINC
Zinc trading range for the day is 212-220
Zinc gains lifted by hopes of more stimulus for China's property sector.
China's central bank extended until the end of 2024 some policies in a November rescue package to shore up the real estate sector
Global zinc market surplus fell to 12,500 metric tons in April, down from 65,000 tons a month earlier
BUY ZINC Jul 2023 @ 215 SL 212 TGT 218-220. MCX
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