Buy ZIinc AUG @ 396 SL 393 TGT 399-402. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM AUG @ 346 SL 343 TGT 349-352. MCX
Observations
Aluminium trading range for the day is 342.5-354.3.
Aluminium dropped as China aluminium production up 3.8 % to 3.9 mln metric tons in July
Global primary aluminium output in June fell 1.5% year-on-year to 5.98 million metric tons
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange fell 3.1% from last Friday.
COPPER
BUY COPPER AUG @ 1365 SL 1355 TGT 1375-1385. MCX
Observations
Copper trading range for the day is 1356.5-1390.5.
Copper slipped as LME inventories climbed for a second day.
China's factory output grew 4.5% in July from a year earlier.
China’s August refined copper output forecast to fall again as feedstock shortage deepens
ZINC
BUY ZINC AUG @ 396 SL 393 TGT 399-402. MCX
Observations
Zinc trading range for the day is 393.5-402.7.
Zinc prices dropped as Nexa reported total zinc production of 79.3 kt, up 8% year over year.
However downside seen limited amid tightening supply and growing concerns over production disruptions in China.
Minmetals Resources zinc output hit 105,800 tonnes, and the company maintained its full year output guidance of 215,000 235,000 tonnes.
