Buy Copper Oct @ 938 SL 934 TGT 942-948. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM OCT @ 254 SL 252 TGT 256-258. MCX
OBSERVATIONS
Aluminium trading range for the day is 253.7-257.3.
Aluminium dropped amid firmer dollar after better-than-forecast U.S. data.
Global primary aluminium output in August rose 0.9% year on year to 6.277 million tonnes – IAI
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange dropped 2.4% from last Friday
COPPER
BUY COPPER OCT @ 938 SL 934 TGT 942-948. MCX
OBSERVATIONS
Copper trading range for the day is 927.5-952.7.
Copper dropped on profit booking after prices rallied amid supply disruption concerns following Freeport's force majeure declaration.
Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 6.6%
The Yangshan copper premium, which reflects demand for copper imported into China, stabilised at $53 a ton, its one-month low
ZINC
BUY ZINC OCT @ 281 SL 279 TGT 283-285. MCX
OBSERVATIONS
Zinc trading range for the day is 278.3-287.7.
Zinc fell amid reports that EC plans to impose steep tariffs—ranging from 25% to 50%—on Chinese steel imports.
The global zinc market swung to a surplus of 30,200 metric tons in July from a deficit of 21,100 tons in June.
Zinc production at Peru's Antamina mine, is expected to rise 67% this year.
