Buy Copper SEP @ 1390 SL 1380 TGT 1400-1410. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM SEP @ 350 SL 347 TGT 353-355. MCX
Observations
Aluminium trading range for the day is 348.1-355.5.
Aluminium prices gained amid tight supply conditions.
The US-Iran war has disrupted aluminum supply from the region, with GCC production falling 44% year-on-year in July.
LME inventories remained close to a 36-year low, while SHFE stockpiles continued to fall, pointing to limited availability.
COPPER
BUY COPPER SEP @ 1390 SL 1380 TGT 1400-1410. MCX
Observations
Copper trading range for the day is 1367.3-1411.5.
Copper rose as signs of improving physical demand in China outweighed pressure from the Fed’s interest rate hike.
Copper output at Chilean state miner Codelco fell 5% from a year earlier in July to 112,800 metric tons
Copper output in Peru, rose 3.7% year-over-year in July to 236,515 metric tons
ZINC
BUY ZINC SEP @ 425 SL 422 TGT 428-430. MCX
Observations
Zinc trading range for the day is 415-434.8.
Zinc gains after reports of an industrial accident at Korea Zinc's Onsan smelter raised concerns about supply.
Prices also gained supported by tight inventories outside China, which keep the premium of the LME cash contract over the three-month contract at $124 per ton.
Major zinc mines, including Antamina in Peru and Red Dog in Alaska, have seen output decline
