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Aluminium

OBSERVATIONS

Aluminium trading range for the day is 216.6-224.6.

Aluminium dropped pressured by concern about excess supplies as inventories climb in SHFE-approved warehouses

SHFE aluminium stocks have gained 36% over the past three months.

Aluminium supply remains elevated, while downstream demand recovery in China is limited

BUY ALUMINIUM SEP @ 219 SL 217 TGT 222-224. MCX

COPPER

OBSERVATIONS

Copper trading range for the day is 772.6-794.6.

Copper dropped weighed down by a firm dollar and demand worry, following weak manufacturing data from China.

China's manufacturing data sank to a six-month low last month, with owners struggling for orders.

Chile's copper output increased around 2% year-on-year in the month to 443,633 metric tons.

BUY COPPER SEP @ 780 SL 776 TGT 785-790. MCX

ZINC

OBSERVATIONS

Zinc trading range for the day is 257.1-267.9.

Zinc dropped as factory activity in China slowed further in August.

Limited upside due to concerns about China's demand recovery.

Treatment charges for zinc concentrates have fallen to historical lows.