Sell Aluminium SEP @ 203 SL 205 TGT 201-199. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 199-202.4.
Aluminium dropped under pressure from weak service sector data from China
China's Yunnan province started ramping up energy-intensive aluminium production after the end of power curbs.
Japan's July aluminium stocks drop 1.9% m/m
SELL ALUMINIUM SEP @ 203 SL 205 TGT 201-199. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 729.2-747.6.
Copper gains supported by better demand prospects as top China issued further.
Inventories of copper in LME-registered warehouses rose to 107,425 tons, the highest since October 2022
SHFE copper stockpiles edged up for the second straight week last week, albeit at a moderate rate.
SELL COPPER SEP @ 743 SL 748 TGT 737-734. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 217.4-223.4.
Zinc gains as support after LME stocks decreased by 2,000 tons to 151,575 tons.
China's services activity expanded at the slowest pace in eight months in August
In euro zone, the decline in business activity accelerated faster than initially thought last month.
SELL ZINC SEP @ 222 SL 224 TGT 219-217. MCX
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