Buy Copper AUG @ 1365 SL 1355 TGT 1375-1385. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM AUG @ 347 SL 344 TGT 350-352. MCX
Observations
Aluminium trading range for the day is 342.9-351.9.
Aluminium gained as Japan's July aluminium stocks down 8.8% m/m, lowest since 2010.
However upside seen limited amid expectations of production restarts in the Middle East, and suppliers have turned to alternative shipping routes.
China's aluminium production rose by 3.8 % to 3.9 million metric tons in July from a year earlier.
COPPER
BUY COPPER AUG @ 1365 SL 1355 TGT 1375-1385. MCX
Observations
Copper trading range for the day is 1353.6-1382.8.
Copper gains after Lundin Mining cuts 2026 copper production guidance after severe storms in Chile
China's refined copper production in July rose 1.3% year-on-year to 1.29 million metric tons.
Stocks showed a further 17,000 tons of copper inflows into LME warehouses, as well as 18,650 tons of reverse cancellations.
ZINC
BUY ZINC AUG @ 398 SL 395 TGT 401-404. MCX
Observations
Zinc trading range for the day is 391.1-403.9.
Zinc gained amid tightening supply and growing concerns over production disruptions in China.
Nexa reported total zinc production of 79.3 kt, up 8% year over year, mainly supported by higher ore grades.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange rose 2.1% from last Friday.
