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ALUMINIUM

OBSERVATIONS

Aluminium trading range for the day is 207.4-219.

Aluminium gains after China’s leaders pledged to step up support measures

The Chinese government refrained from passing stimulus to target the aggressive slowdown in the manufacturing sector.

The total social inventory of aluminum ingots is 254,000 mt higher YoY.

BUY ALUMINIUM AUG @ 213 SL 210 TGT 216-218. MCX

COPPER

OBSERVATIONS

Copper trading range for the day is 793-817.6.

Copper rose as China’s leaders pledged to step up support measures

Weak business activity data in China also raised the odds of further stimulus from authorities.

Chile's copper output in the Andean nation, decreased 1.25% year-on-year in June to 452,850 metric tons.

BUY COPPER AUG @ 805 SL 801 TGT 810-815. MCX

ZINC

OBSERVATIONS

Zinc trading range for the day is 250.5-257.3.

Zinc prices rebounded on hope for China's stimulus after weak factory data.

Beijing's Politburo signalled a sense of urgency to revive the $17 trillion economy

In June, China's refined zinc production was 545,800 mt, up 1.81% MoM but down 1.2% YoY.

BUY ZINC AUG @ 252 SL 250 TGT 256-259. MCX