Buy Aluminium Jul @ 213 SL 210 TGT 216-218. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 211-218.4.
Aluminium prices fell as some bullish positions were scrapped and 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 JUL @ 213 SL 210 TGT 216-218. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 795.8-818.8.
Copper prices dropped on growing concern over demand in China.
Chinese copper producers shipped out a record 157,751 tons last month.
Copper market in 65,000 metric tons surplus in May 2024 – ICSG
BUY COPPER JUL @ 805 SL 800 TGT 810-814. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 252-267.2.
Zinc dropped as in June, China's refined zinc production was up 1.81% MoM
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 JUL @ 258 SL 256 TGT 261-264. MCX
