Buy Copper AUG @ 1385 SL 1375 TGT 1395-1405. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM AUG @ 347 SL 344 TGT 350-352. MCX
Observations
Aluminium trading range for the day is 342.7-352.9.
Aluminium gains supported by China pledging fiscal policy measures to strengthen economic growth.
Aluminium stocks at three major Japanese ports fell to 201,000 metric tons at the end of July, down 8.8% from the previous month.
Global primary aluminium output in July fell 1.7% year on year to 6.16 million tonnes – IAI
COPPER
BUY COPPER AUG @ 1385 SL 1375 TGT 1395-1405. MCX
Observations
Copper trading range for the day is 1374.6-1397.4.
Copper gained as global refined copper market showed a 60,000 metric tons deficit in June.
LME-monitored copper inventories stood at 238,575 tons, about 16% above their February low.
Comex copper stocks stand at record highs of 742,778 short tons, or 673,836 metric tons
ZINC
BUY ZINC AUG @ 423 SL 420 TGT 426-429. MCX
Observations
Zinc trading range for the day is 404.2-436.8.
Zinc prices rose on concern about shortages outside China.
LME zinc stocks at 93,250 tons have dropped 25% since the middle of June.
Stocks of the metal in warehouses approved by the Shanghai Futures Exchange have more than doubled this year.
