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ALUMINIUM

Observations

Aluminium trading range for the day is 194.5-198.4

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

BUY ALUMINIUM Jul 2023 @ 194 SL 192 TGT 197-199. MCX

COPPER

Observations

Copper trading range for the day is 715.3-747

Copper gains amid persistent supply concerns

Markets continued to monitor signals from China’s government on any stimulus measures.

The data raised concerns that production in Chile may fall by more than Codelco’s forecast of 7%

BUY COPPER Jul 2023 @ 726 SL 721 TGT 732-736. MCX

ZINC

Observations

Zinc trading range for the day is 210-217

Zinc gains on growing hopes that China would introduce additional support.

Further supporting metals prices, the yuan strengthened after Beijing tweaked cross-border financing rules.

Chinese authorities are considering easing restrictions on home purchases in the nation's biggest cities

BUY ZINC Jul 2023 @ 211 SL 209 TGT 214-216. MCX

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