Buy Zinc Aug @ 270 SL 268 TGT 272-274. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM AUG @ 254 SL 252 TGT 256-258. MCX
Observations
Aluminium trading range for the day is 251.7-257.1.
Aluminium gains amid signs of robust demand and expectations of lower supply.
Supply for European factories is already limited due to sanctions of major producer Russia.
The physical price premium for the August contract has climbed above $1,543 a metric ton, up nearly 90% since the end of May.
COPPER
BUY COPPER AUG @ 891 SL 887 TGT 895-899. MCX
Observations
Copper trading range for the day is 882.7-898.9.
Copper prices rise as relief dominated the mood after the U.S. and China extended their tariff truce.
Support also seen amid optimism was buoyed by a lower dollar after the release of U.S. inflation data.
Copper production from Chilean state-run miner Codelco ticked up 17% year-over-year in June.
ZINC
BUY ZINC AUG @ 270 SL 268 TGT 272-274. MCX
Observations
Zinc trading range for the day is 267.8-273.2.
Zinc gains boosted by the extension of a U.S.-China trade truce deadline.
The United States and China extended a tariff truce deadline for another 90 days, easing concerns.
Zinc supply is tightening as Chinese smelters face pressure to cut production due to capacity outpacing demand.
