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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