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01-01-1970 12:00 AM | Source: Kedia Advisory
Copper trading range for the day is 715.7-728.2 - Kedia Advisory
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ALUMINIUM

Observations

Aluminium trading range for the day is 194.9-198.1

Aluminium dropped as smelters started to resume production in Yunnan

China's aluminium imports rise 10.7% y/y in H1

China June aluminium output 3.46 mln metric tons

SELL ALUMINIUM Jul 2023 @ 198 SL 200 TGT 195-193. MCX

 

COPPER

Observations

Copper trading range for the day is 715.7-728.2

Copper dropped as China June refined copper output at record high

Citi sees copper softness setting up a strong medium-term buying opportunity, with $12,000/t their new 2025 base case forecast

Kazakhstan's refined copper output for January-June dropped 19.4% year-on-year

SELL COPPER Jul 2023 @ 726 SL 730 TGT 720-716. MCX

 

ZINC

Observations

Zinc trading range for the day is 210-215

Zinc dropped weighed by demand concerns in China

Citi sees further 10-15% downside in zinc prices into year-end, as surplus markets & cost deflation weigh

Kazakhstan's production of refined zinc fell 4.9% for January-June

SELL ZINC Jul 2023 @ 215 SL 218 TGT 212-210. MCX

 

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