Buy Zinc Aug @ 398 SL 395 TGT 401-404. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM AUG @ 349 SL 346 TGT 352-354. MCX
Observations
Aluminium trading range for the day is 347.4-355.6.
Aluminium gains as LME aluminum inventories kept drawing down to an all time low, tightening overseas supply.
China aluminium production up 3.8 % to 3.9 mln metric tons in July – stats bureau
EGA said its Al Taweelah smelter was operating at 18% of capacity and is expected to return to prior output levels in early 2027.
Copper
BUY COPPER AUG @ 1380 SL 1370 TGT 1390-1400. MCX
Observations
Copper trading range for the day is 1367.1-1409.1.
Copper prices rose amid further signs of tightening global supply.
China’s refined copper output is expected to decline for a second consecutive month in August.
Peru's copper production fell nearly 5% year-over-year in June, coming down to 218,232 metric tons.
Zinc
BUY ZINC AUG @ 398 SL 395 TGT 401-404. MCX
Observations
Zinc trading range for the day is 397.6-404.6.
Zinc gains amid tightening supply and growing concerns over production disruptions in China.
Global supply is also tightening, with Glencore, Boliden and MMG reporting lower production.
Zinc concentrate inventories at main ports in China totaled 244,000 mt in physical content, down 36,000 mt WoW
