Buy Zinc AUG @ 208 SL 206 TGT 213-215. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 195.3-198.7.
Aluminium remained in range as China's Yunnan started ramping up production.
Global aluminium output falls 0.5% year on year in July – IAI
Weak demand sends near term LME aluminium discount to highest since 2008
BUY ALUMINIUM AUG @ 195 SL 193 TGT 197-199. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 721.8-733.4.
Copper gains as China's central bank vowed to resolve local government debt risks
Copper stocks on SHFE fell 25.9% on-week last Friday to 39,228 tons, the lowest since September 2022.
China's central bank injected more money into the market to support the economy.
BUY COPPER AUG @ 722 SL 717 TGT 727-732. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 207.2-212.2.
Zinc gains as China's central bank injected more money to support economy
Zinc inventories in LME-registered warehouses have surged to a 17-month high
S&P Global anticipates a moderate growth of 1.4% in the worldwide demand for refined zinc in 2023
BUY ZINC AUG @ 208 SL 206 TGT 213-215. MCX
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