Buy Aluminium AUG @ 346 SL 343 TGT 349-352. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM AUG @ 346 SL 343 TGT 349-352. MCX
Observations
Aluminium trading range for the day is 345.8-349.6.
Aluminium gains as China is considering further stimulus amid Julys weaker-than-expected data.
Support also seen as dollar fell as investors questioned whether the U.S. Treasury's efforts to calm the bond markets.
Gulf aluminium output slides in July, weighing on global production
COPPER
BUY COPPER AUG @ 1380 SL 1370 TGT 1390-1400. MCX
Observations
Copper trading range for the day is 1369.5-1397.5.
Copper prices rose supported by a weaker dollar and China pledging fiscal policy measures to strengthen economic growth.
The premium of the LME cash copper contract over the benchmark slid to $77 a ton from Monday's $436.
UBS sees copper market deficit to widen to 379,000 metric tons in 2027, from 219,000 metric tons in 2026
ZINC
BUY ZINC AUG @ 405 SL 402 TGT 408-410. MCX
Observations
Zinc trading range for the day is 401.8-411.4.
Zinc rose as the accumulation of stocks in China, drove concerns about shortages elsewhere.
LME zinc inventories fall 25% in two months while China stocks double this year
LME cash-to-three-month premium jumps to $132
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