Copper trading range for the day is 730.7-751.3 - Kedia Advisory
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ALUMINIUM
Observations
Aluminium trading range for the day is 199.2-203.9
Aluminium gains as China’s policies promote real estate, automobile to pick up.
However, the resumption of aluminium production in Yunnan is speeding up
Japan buyers agree to pay Q3 aluminium premium of $127.5/T
SELL ALUMINIUM Aug 2023 @ 205 SL 207 TGT 202-200. MCX
COPPER
Observations
Copper trading range for the day is 730.7-751.3
Copper dropped amid China demand concerns
PMI data from China continued to reveal contractionary patterns in both the construction and manufacturing sectors
Shanghai warehouse copper stocks down 14.9%
SELL COPPER Aug 2023 @ 744 SL 749 TGT 738-734. MCX
ZINC
Observations
Zinc trading range for the day is 221-226
Zinc gains as China’s government promised to the stabilization of economy.
The World Bank have raised their expectations for China's economy growth this year.
The global zinc market surplus slipped to 53,000 metric tons in May, down from 64,000 tons a month earlier
SELL ZINC Aug 2023 @ 226 SL 228 TGT 223-221. MCX
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