Buy Copper Sep @ 804 SL 800 TGT 810-814. MCX - Kedia Advisory
ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 221.2-224.8.
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 @ 224 SL 222 TGT 226-228. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 794.8-808.2.
Copper dropped pressured by rising inventories, lacklustre demand in China and a strong dollar.
Chile's copper output increased around 2% year-on-year in the month to 443,633 metric tons.
LME copper inventories increased by 8,700 tons to 322,950 tons, the highest for about five years.
BUY COPPER SEP @ 804 SL 800 TGT 810-814. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 262-269.
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 @ 267 SL 265 TGT 270-272. MCX.
