Buy Copper Sep @ 904 SL 900 TGT 910-914. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM SEP @ 254 SL 252 TGT 256-258. MCX
Observations
Aluminium trading range for the day is 252.5-258.1.
Aluminium gains amid upbeat economic data from China, and optimism about U.S. interest rate cuts.
However upside seen limited amid worries about U.S. tariffs, which helped to dampen factory activity in parts of Asia.
The global primary aluminium market experienced a supply surplus in June.
Copper
BUY COPPER SEP @ 904 SL 900 TGT 910-914. MCX
Observations
Copper trading range for the day is 890.9-916.1.
Copper prices rose supported by robust Chinese demand.
China's factory activity in August expanded at the quickest pace in five months on the back of rising new orders.
LME copper inventories rebounded overall last week, with the latest inventory, hitting a three-month high.
Zinc
BUY ZINC SEP @ 274 SL 272 TGT 276-278. MCX
Observations
Zinc trading range for the day is 271.7-276.9.
Zinc gained amid likelihood of capacity cuts by Chinese miners and refiners.
The developments were consistent with lower LME inventories, dropped by 130,000 tonnes since the start of the year to 42,000 tonnes.
Euro zone businesses saw new orders increase in August for the first time since May 2024.
