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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