Buy Aluminium SEP @ 202 SL 200 TGT 205-207. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 201.6-205.6.
Aluminum rises as China's central bank trims bank reserve requirements to boost recovery.
Demand has been muted this year by a patchy post-COVID economic recovery in top metals consumer China.
September normally sees strong demand as industrial activities pick up after a summer lull.
BUY ALUMINIUM SEP @ 202 SL 200 TGT 205-207. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 728.5-743.7.
Copper gains supported by optimism regarding improved demand in China.
PBOC has cut its reserve requirement ratio for the second time this year.
However, the rise in copper prices is somewhat limited by a significant increase in Chinese copper inventories.
BUY COPPER SEP @ 734 SL 730 TGT 739-743. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 222.5-228.9.
Zinc prices rose on China's measures to support economic recovery.
LME inventories continued to decline significantly, and with news of production cuts at overseas mines supported prices.
China has stepped up domestic output of refined zinc this year
BUY ZINC SEP @ 223 SL 220 TGT 226-228. MCX
