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Buy Copper Jul @ 837 SL 833 TGT 842-846. MCX - Kedia Advisory
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Aluminium
OBSERVATIONS
Aluminium trading range for the day is 220.6-225.4.
Aluminium eased as weak demand prospects in China were emphasised by slow economic growth
China June aluminium output climbs on higher profits
China's economy grew 4.7% in the second quarter, its slowest since the first quarter of 2023.
BUY ALUMINIUM JUL @ 221 SL 219 TGT 224-226. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 834.7-849.3.
Copper prices fell weighed down by weak economic data from China and rising inventories.
China's economy grew much slower than expected in the second quarter.
Copper inventories global warehouses all increased so far in July, pointing to weak demand.
BUY COPPER JUL @ 837 SL 833 TGT 842-846. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 264.6-271.
Zinc prices eased as disappointing economic numbers in China weighed on sentiment.
China's refined zinc output in May 2024 up 6.26% MoM.
China's MMG Ltd has halted operations at a mill at its Dugald River zinc mine in Australia for about two months of repair work.
BUY ZINC JUL @ 266 SL 263 TGT 269-271. MCX
