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ALUMINIUM

OBSERVATIONS

Aluminium trading range for the day is 207.1-217.7.

Aluminium gains as the Chinese government continues to boost the domestic economy.

Citi forecasts aluminium recovery to $2,500/t (previously $2,550/t) within three months

In July, aluminium production is expected to reach around 3.68 million mt, and social inventory is at a high level

BUY ALUMINIUM AUG @ 212 SL 210 TGT 215-217. MCX

COPPER

OBSERVATIONS

Copper trading range for the day is 764.3-792.9.

Copper gains amid tight mine supply and demand growth potential from the energy sectors.

However upside seen limited pulled down by a weak consumption outlook amid fears of a U.S. recession.

On the COMEX, fund managers reduced their net long positions for copper to 9,449 contracts by July 30

BUY COPPER AUG @ 776 SL 772 TGT 782-786. MCX

ZINC

OBSERVATIONS

Zinc trading range for the day is 243.4-250.

Zinc prices dropped as looming concerns over global economies weighed on sentiment.

The global zinc market surplus fell to 8,300 metric tons in May from 15,300 tons in April

Investors were also hoping for more support policy from China

BUY ZINC AUG @ 246 SL 243 TGT 249-252. MCX