Buy Zinc Sep @ 216 SL 214 TGT 220-222. MCX - Kedia Advisory
ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 199.8-203.4.
Aluminium gains after China moved to boost its struggling housing markets
China's July aluminium production up 1.95% YoY at 3.568 million mt.
Jan-Jul aluminium output grows 2.7% YoY to 23.676 million mt.
BUY ALUMINIUM SEP @ 200 SL 198 TGT 202-204. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 731-739.8.
Copper fell on tepid consumption amid slowing economic growth in China
China's manufacturing activity contracted for a fifth straight month in August
Copper output in Chile, rose 0.94% year-on-year in July to 434,089 metric tons
BUY COPPER SEP @ 734 SL 730 TGT 740-744. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 215.1-219.7.
Zinc dropped as output from January to August will reach 4.328 million mt, an increase of 10.69% year-on-year.
A rise in cancelled zinc warrants at nearly 20% compared with 2% last week was also supporting zinc prices.
Industrial metals markets are awaiting surveys of PMIs in China's manufacturing sector.
BUY ZINC SEP @ 216 SL 214 TGT 220-222. MCX
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