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Buy Aluminium Jul @ 226 SL 224 TGT 228-230. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 225.8-229.6.
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 @ 226 SL 224 TGT 228-230. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 845.8-873.2.
Copper eased as disappointing economic numbers in China weighed on sentiment.
China’s economy grew less than expected in the second quarter amid a persistent property downturn.
LME copper inventories climbed to 206,778 tons last week, the highest since October 2021.
BUY COPPER JUL @ 852 SL 847 TGT 857-860. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 270.7-277.1.
Zinc prices gains amid fuelling optimism over demand in China.
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 @ 272 SL 269 TGT 275-277. MCX
