Buy Copper Sep @ 1355 SL 1345 TGT 1365-1375. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM SEP @ 346 SL 343 TGT 349-351. MCX
Observations
Aluminium trading range for the day is 344.7-351.1.
Aluminium dropped as oil prices rose on renewed Middle East supply concerns, adding to inflation worries.
LME inventories remained close to a 36-year low, while SHFE stockpiles continued to fall, pointing to limited availability.
Rising aluminum exports from top producer China could also help ease supply constraints and limit price gains.
Copper
BUY COPPER SEP @ 1355 SL 1345 TGT 1365-1375. MCX
Observations
Copper trading range for the day is 1345.1-1377.7.
Copper fell as uncertainty over potential U.S. tariffs on refined copper continued to weigh on sentiment.
Stocks in COMEX warehouses declined for the first time since mid-June, slipping 0.02% from a day earlier to 696,268 metric tons.
For the week to Sept. 8, COMEX copper speculators added 9,016 net-long contracts to 82,017.
Zinc
BUY ZINC SEP @ 412 SL 409 TGT 415-418. MCX
Observations
Zinc trading range for the day is 407.7-419.7.
Zinc dropped as a stronger US dollar and growing expectations of a Federal Reserve rate hike weighed on the metal.
Pressure also seen amid driven by mounting expectations of Chinese export deliveries onto the LME.
However downside seen limited as the market faced significant supply pressures.
