Buy Aluminium Aug @ 210 SL 208 TGT 212-214. MCX - Kedia Advisory
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Aluminium
OBSERVATIONS
Aluminium trading range for the day is 209.4-214.8.
Aluminium prices dropped amid concerns about demand
Global primary aluminium output rose by 3.9% year-on-year to 35.84 million metric tons in the first half of 2024
Global aluminium output rises 3.2% year on year in June – IAI
BUY ALUMINIUM AUG @ 210 SL 208 TGT 212-214. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 776.2-812.
Copper dropped as demand concerns in China continued to pressure prices.
China's central bank delivered a surprise and unscheduled cut to its one-year medium-term lending facility rate.
Copper premium, surged to $25 a ton, its highest in over three months.
BUY COPPER AUG @ 795 SL 790 TGT 800-804. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 243.4-259.8.
Zinc prices dropped on growing concern over demand in China.
In June, China's refined zinc production was 545,800 mt, up 9,700 mt or 1.81% MoM
Zinc inventories in warehouses registered with the London Metal Exchange rebounded 9% to their highest level in nearly three months
BUY ZINC AUG @ 251 SL 249 TGT 254-256. MCX
