Buy Copper AUG @ 1360 SL 1352 TGT 1370-1380. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM AUG @ 343 SL 340 TGT 346-348. MCX
Observations
Aluminium trading range for the day is 341.1-351.1.
Aluminium gains amid ongoing supply constraints and slower production.
Output outside China fell 6.7% year-on-year in July, mainly due to reduced operating rates at several Middle Eastern smelters.
Stocks in LME-registered warehouses fell further to 267,800, the lowest level seen this century.
COPPER
BUY COPPER AUG @ 1360 SL 1352 TGT 1370-1380. MCX
Observations
Copper trading range for the day is 1341.5-1381.5.
Copper gains as LME, Shanghai inventories fall
LME three-month copper rose to breach $14,000/ton for the first time since June 3.
Copper stocks in LME-registered warehouses fell to 238,350 tons, down from around 400,000 tons in April.
ZINC
BUY ZINC AUG @ 386 SL 383 TGT 389-392. MCX
Observations
Zinc trading range for the day is 384.7-390.3.
Zinc prices gained amid tight near-term supply conditions and lower oil prices
The cash LME zinc contract is trading roughly $60 a ton higher than the three-month forward, indicating near-term tightness.
Available LME zinc stocks stand at 73,850 metric tons, about two days of global consumption.
