IGI Logo

Aluminium

BUY ALUMINIUM AUG @ 250 SL 248 TGT 252-254. MCX

Observations

Aluminium trading range for the day is 248.1-253.5.

Aluminium climbed as lower inventories and signs of improving demand in China boosted prices.

Global primary aluminium output in July rose 2.5% year-on-year to 6.373 million tonnes – IAI

Investors are closely watching for cues from Federal Reserve Chair Jerome Powell's speech on Friday for a test of bets on a rate cut.

Copper

BUY COPPER AUG @ 878 SL 874 TGT 882-886. MCX

Observations

Copper trading range for the day is 873.6-884.6.

Copper rose as demand in China remained healthy and investors interest rate cuts ahead.

In China, the Yangshan copper premium, has gained 13% to $51 a ton since August 11.

Copper inventories in warehouses monitored by the SHFE fell 5.4 % from last Friday

Zinc

BUY ZINC AUG @ 266 SL 264 TGT 268-270. MCX

Observations

Zinc trading range for the day is 263-269.6.

Zinc gains as euro zone new orders grow in August for first time since May 2024.

Zinc inventories in warehouses monitored by the SHFE rose 1.3% from last Friday.

The production of major overseas zinc mines increased by over 12% YoY