Sell Aluminum Jul 2023 @ 201 SL 203 TGT 198-196. MCX - Kedia Advisory
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ALUMINIUM
Observations
Aluminium trading range for the day is 196.7-202.7
Aluminium fell as supplies rose and demand weakened, expecting higher inventories
China's aluminium production rose 2.9% to 3.46 million metric tons in June
Smelters started to resume production in the southwestern Yunnan province after curbs on local power usage were eased.
SELL ALUMINIUM Jul 2023 @ 201 SL 203 TGT 198-196. MCX
COPPER
Observations
Copper trading range for the day is 715.1-742.4
Copper fell as China's weak data hampered recovery.
China’s GDP disappointed market expectations and grew 6.3% in the second quarter.
Copper output in top producer Chile sank 14% annually in May
SELL COPPER Jul 2023 @ 730 SL 735 TGT 724-720. MCX
ZINC
Observations
Zinc trading range for the day is 212-218
Zinc dropped after feeble economic data from China kept a lid on demand.
Second-quarter data showed China's economy grew only 0.8% from the previous quarter as demand weakened.
China’s output reached 3.23 million mt in H1, a year-on-year increase of 8.59%.
SELL ZINC Jul 2023 @ 217 SL 220 TGT 213-211. MCX
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