BUY COPPER SEP @ 731 SL 727 TGT 736-740. MCX - Kedia Advisory
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Aluminium
Observation
Aluminium trading range for the day is 199.1-206.1.
Aluminium dropped after China's monthly production reached record high in August.
China's factory output and retail sales grew at a faster pace in August
US primary aluminium production in 2Q2023 reflects a 1% sequential growth; output in H1 totals 378,000t
BUY ALUMINIUM SEP @ 200 SL 198 TGT 202-204. MCX
Copper
Observation
Copper trading range for the day is 727.4-745.8.
Copper dropped on profit booking after inventories in SHFE rose 18.5%.
Copper stocks in LME are at their highest since October 2022 after sharp growth over July-September.
China boosted its policy support for its sputtering economic recovery.
BUY COPPER SEP @ 731 SL 727 TGT 736-740. MCX
Zinc
Observation
Zinc trading range for the day is 220.1-229.3.
Zinc dropped weighed down by a clouded outlook for China.
Chinese market participants said demand had remained flat this time amid a patchy economic recovery.
September normally sees strong demand as industrial activities pick up after a summer lull.
BUY ZINC SEP @ 221 SL 218 TGT 224-226. MCX
