Buy Zinc AUG @ 390 SL 387 TGT 393-396. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM AUG @ 355 SL 352 TGT 358-360. MCX
Observations
Aluminium trading range for the day is 352.4-361.8.
Aluminium prices rose as fears of tight inventory and a continued supply deficit boosted the light metal.
Aluminium stocks have fallen sharply, and market expect to remain in deficit this year.
Output outside China fell 6.7% year-on-year in July, mainly due to reduced operating rates at several Middle Eastern smelters.
COPPER
BUY COPPER AUG @ 1372 SL 1365 TGT 1380-1390. MCX
Observations
Copper trading range for the day is 1370.4-1390.2.
Copper gained supported by signs of tightening global supply and expectations for constrained mine output.
Goldman Sachs has sharply revised its copper outlook, raising its forecast for the 2026 refined-copper.
Chilean copper output rises in June at Escondida and Collahuasi, but drops at Codelco
ZINC
BUY ZINC AUG @ 390 SL 387 TGT 393-396. MCX
Observations
Zinc trading range for the day is 390.8-396.8.
Zinc dropped on profit booking after prices gained amid LME available zinc stocks were at the lowest since December
keSupport also seen as heavy rainfall and flooding in parts of China raised concerns over potential disruptions to mining, smelting operations.
Zinc smelter in Central China plans to carry out routine maintenance in August, which is expected to last around half a month, affecting output by 1,000-1,500 mt.
