Zinc trading range for the day is 219-232 - Kedia Advisory
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ALUMINIUM
Observations
Aluminium trading range for the day is 198-207.7
Aluminium gained, strong demand boosted by China's end to zero-COVID policy.
However, upside seen limited the easing of power curbs in the Yunnan region has led to the resumption of aluminum production in the area.
China's aluminum imports increased by 10.7% compared to the previous year driven by lower domestic supply.
SELL ALUMINIUM Aug 2023 @ 206 SL 208 TGT 203-201. MCX
COPPER
Observations
Copper trading range for the day is 737.1-765.8
Copper climbed spurred by hopes of further stimulus from China
China's manufacturing sector has contracted for the fourth month running, suggesting weak metal consumption.
Chile copper output production 0.9% in June
SELL COPPER Aug 2023 @ 758 SL 763 TGT 750-745. MCX
ZINC
Observations
Zinc trading range for the day is 219-232
Zinc rose as traders cheered the prospects of further stimulus in China
Pledges from the Chinese authorities to boost the country's troubled property sector.
Global zinc market surplus falls to 53,000 metric tons in May – ILZSG
SELL ZINC Aug 2023 @ 220 SL 222 TGT 217-215. MCX
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