Buy Copper Aug @ 897 SL 893 TGT 903-907. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM AUG @ 253 SL 251 TGT 255-257. MCX
Observations
Aluminium trading range for the day is 251.9-255.1.
Aluminium dropped as participants in Chinese metals markets closely monitored progress in U.S.-China trade discussions.
However downside seen limited amid the outlook of lower supply and improved demand from China.
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange rose 6.4% from last Friday
COPPER
BUY COPPER AUG @ 897 SL 893 TGT 903-907. MCX
Observations
Copper trading range for the day is 892.1-904.9.
Copper gains on short covering ahead of potential 50% U.S. import tariff
SHFE copper inventories dropped 13.17% to 73,423 mt, a 7-month low
Glencore halts Katanga and Mopani mines, removing 400,000 tonnes from market.
ZINC
BUY ZINC AUG @ 267 SL 265 TGT 269-271. MCX
Observations
Zinc trading range for the day is 264.7-270.3.
Zinc prices rose on China’s plans to boost machinery and auto sector growth.
Chinese smelters face pressure to cut output as capacity outpaces demand.
Heavy rains disrupt production at some South China zinc smelters
