Buy Aluminium Aug @ 223 SL 221 TGT 226-228. MCX - Kedia Advisory
ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 220.7-231.7.
Aluminium dropped on profit booking after prices rose spurred by concern over tight supply.
However, the market was plagued by subdued demand in China and ample supply due to strong domestic production.
China exported 146,708 tons of alumina last month, up 9.6% from a year earlier.
BUY ALUMINIUM AUG @ 223 SL 221 TGT 226-228. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 783-812.2.
Copper dropped due to a firmer dollar, but falling metal inventories limited losses.
China exported 70,006 tons of refined copper in July, down from a record high.
LME cash copper contract traded at a discount, indicating abundant near-term supply.
BUY COPPER AUG @ 790 SL 785 TGT 795-799. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 261.1-271.7.
Zinc dropped on profit booking after prices rose as buying spurred by China’s improving demand.
China's imports of zinc concentrates dropped 4.8% annually in July to 375,373 tons.
Chinese zinc smelters agree to adjust maintenance plans
BUY ZINC AUG @ 263 SL 261 TGT 266-269. MCX
