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ALUMINIUM

Observations

Aluminium trading range for the day is 198.5-203.5

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.

BUY ALUMINIUM Aug 2023 @ 200 SL 198 TGT 202-204. MCX

COPPER

Observations

Copper trading range for the day is 729.2-755.2

Copper gains amid persistent concerns over tight supply and increasing demand.

Chilean miner Codelco revised its output projections by 70,000 tonnes to 1.31-1.35 million tonnes this year

Copper market in 65,000 metric tons deficit in May 2023 – ICSG

BUY COPPER Aug 2023 @ 742 SL 737 TGT 748-752. MCX

ZINC

Observations

Zinc trading range for the day is 218-226

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

BUY ZINC Aug 2023 @ 221 SL 218 TGT 224-226. MCX

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