Buy Aluminium Jul @ 221 SL 219 TGT 224-226. MCX - Kedia Advisory
Aluminium
OBSERVATIONS
Aluminium trading range for the day is 219.6-225.6.
Aluminium eased as weak demand prospects in China were emphasised by slow economic growth
China June aluminium output climbs on higher profits
China's economy grew 4.7% in the second quarter, its slowest since the first quarter of 2023.
BUY ALUMINIUM JUL @ 221 SL 219 TGT 224-226. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 816.4-849.6.
Copper fell as pessimism over industrial demand in top consumer China continued to weigh.
Copper inventories in warehouses monitored by the LME, Comex and SHFE have been increasing so far in July.
China's refined copper production in June rose 3.6% from the prior year to 1.13 million metric tons.
BUY COPPER JUL @ 825 SL 820 TGT 830-835. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 262.7-270.7.
Zinc prices eased as disappointing economic numbers in China weighed on sentiment.
China's refined zinc output in May 2024 up 6.26% MoM.
China's MMG Ltd has halted operations at a mill at its Dugald River zinc mine in Australia for about two months of repair work.
BUY ZINC JUL @ 264 SL 261 TGT 268-270. MCX
