Copper trading range for the day is 716.5-738.8 - Kedia Advisory
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ALUMINIUM
Observations
Aluminium trading range for the day is 195-197.7
Aluminium gains on short covering after dropped as production resume
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 716.5-738.8
Copper fell as investors were let down by China's modest stimulus to boost economy
Copper market in 65,000 metric tons deficit in May 2023 – ICSG
Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 5.8% from last Friday.
SELL COPPER Jul 2023 @ 728 SL 732 TGT 723-720. MCX
ZINC
Observations
Zinc trading range for the day is 211-216
Zinc fell as rapid rebuild in LME inventory has kept price under pressure.
LME stocks of zinc have risen above 90,000 metric tons for the first time since May of 2022 thanks to a surge of deliveries into Singapore.
China imported 45,329 metric tons of refined zinc in June, the highest monthly tally since May 2021.
SELL ZINC Jul 2023 @ 215 SL 217 TGT 212-210. MCX
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