Buy Copper Aug 2023 @ 742 SL 737 TGT 747-750. MCX - Kedia Advisory
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ALUMINIUM
Observations
Aluminium trading range for the day is 200.4-205.7
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 @ 201 SL 199 TGT 204-206. MCX
COPPER
Observations
Copper trading range for the day is 734.3-762.9
Copper falls as China's manufacturing PMIs signal factory activity contraction
However, downside seen limited amid persistent concerns of tight supply
Codelco revised its output projections by 70,000 tonnes to 1.31-1.35 million tonnes this year
BUY COPPER Aug 2023 @ 742 SL 737 TGT 747-750. MCX
ZINC
Observations
Zinc trading range for the day is 223-230
Zinc dropped as weak data out of China indicated poor demand.
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 @ 224 SL 221 TGT 227-2230. MCX
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