Buy Copper Sep @ 782 SL 777 TGT 788-792. MCX - Kedia Advisory
Aluminium
OBSERVATIONS
Aluminium trading range for the day is 219.9-224.1.
Aluminium dropped pressured by concern about excess supplies as inventories climb in SHFE-approved warehouses
SHFE aluminium stocks have gained 36% over the past three months.
Aluminium supply remains elevated, while downstream demand recovery in China is limited
BUY ALUMINIUM SEP @ 221 SL 219 TGT 224-226. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 770.9-807.3.
Copper dropped weighed down by a firm dollar and demand worry, following weak manufacturing data from China.
China's manufacturing data sank to a six-month low last month, with owners struggling for orders.
Chile's copper output increased around 2% year-on-year in the month to 443,633 metric tons.
BUY COPPER SEP @ 782 SL 777 TGT 788-792. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 260.7-268.1.
Zinc dropped as factory activity in China slowed further in August.
Limited upside due to concerns about China's demand recovery.
Treatment charges for zinc concentrates have fallen to historical lows.
BUY ZINC SEP @ 263 SL 261 TGT 266-268. MCX
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