Buy Copper Sep @ 795 SL 791 TGT 800-805. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 223.1-226.9.
Aluminium gains as demand side is entering the traditional peak season, consumption is gradually recovering
Aluminium stocks were broadly unchanged, and on-warrant stocks pushed up to 345,300 tonnes in August
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange fell 1.4% from last Friday
BUY ALUMINIUM SEP @ 224 SL 222 TGT 226-228. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 789.4-807.8.
Copper gains as copper output from Chile's Codelco slides nearly 11% in July
Chile's state-owned copper commission Cochilco lowered its forecast for the average price of copper in 2024 to $4.18 per pound
China's unwrought copper imports slid in August to a 16-month low, customs data showed.
BUY COPPER SEP @ 795 SL 791 TGT 800-805. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 258-268.
Zinc gains amid optimism surrounding a likely interest rate cut from the Federal Reserve this month.
Exports from China increased by 4.6% year-on-year in August 2024, moderating from a 7% rise in July.
Total open-tonnage volumes of zinc in LME warehouses amounted to 217,575 tonnes on August 30, up 2.6% end of July
