Buy Aluminum Jul @ 340 SL 337 TGT 343-345. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM JUL @ 340 SL 337 TGT 343-345. MCX
Observations
Aluminium trading range for the day is 338-345.2.
Aluminium dropped as renewed tensions in the Middle East lifted oil prices and heightened inflation concerns.
China's imports of unwrought aluminium and aluminium products declined 17.4% in June from a year earlier.
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange fell 1.12% from last Friday.
Copper
BUY COPPER JUL @ 1310 SL 1300 TGT 1320-1330. MCX
Observations
Copper trading range for the day is 1297.9-1323.9.
Copper prices rose as dwindling inventories and signs of strong demand in China triggered a flurry of buying.
China's imports of refined copper hitting a nine-month high in Jun.
A gauge of China's appetite for importing metal, the Yangshan copper premium, jumped to a 14-month high of $100 a ton on July 17.
Zinc
BUY ZINC JUL @ 372 SL 369 TGT 375-378. MCX
Observations
Zinc trading range for the day is 370.7-377.7.
Zinc gained amid tight near-term supply conditions and signs of strength in the manufacturing sector.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange fell 0.28% from last Friday.
China's economy is facing a structural mismatch between strong supply and weak demand, its central bank said.
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