Zinc trading range for the day is 214.6-222.2 - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 196-201.4.
Aluminum fell due to sluggish China post-pandemic recovery data.
Chinese property giant's debt issue raised doubts about a real estate recovery.
Russian aluminium in LME – registered warehouses rise to 81% in July
BUY ALUMINIUM AUG @ 196 SL 194 TGT 199-201. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 718.7-732.7.
Copper falls as fresh data amplifies China economic worries.
However, the decline was limited by evidence of lower supply, risking wide shortages.
Copper inventories in warehouses monitored by SHFE rose 1.5% from last Friday
BUY COPPER AUG @ 720 SL 716 TGT 725-730. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 214.6-222.2.
Zinc dropped amid mounting concerns about the slow recovery in China.
S&P Global anticipates a moderate growth of 1.4% in the worldwide demand for refined zinc in 2023
Global refined zinc supply is expected to increase by 1.9%.
BUY ZINC AUG @ 215 SL 212 TGT 218-220. MCX
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