Buy Zinc AUG @ 410 SL 407 TGT 414-416. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM AUG @ 346 SL 343 TGT 349-352. MCX
Observations
Aluminium trading range for the day is 344.3-350.3.
Aluminium dropped amid expectations of production restarts in the Middle East.
EGA and Alba Aluminium in the Middle East are ramping up production resumption at a fairly fast pace.
China's aluminium production rose by 3.8 % to 3.9 million metric tons in July from a year earlier
COPPER
BUY COPPER AUG @ 1380 SL 1370 TGT 1390-1400. MCX
Observations
Copper trading range for the day is 1368.9-1400.3.
Copper prices rose as a jump in cancelled warrants or metal earmarked for delivery on LME triggered buying.
Copper inventories in LME-monitored warehouses slipped 0.56% to 238,575 tons in the latest data.
The premium of cash copper over three-month copper narrowed further to around $53 a ton, from $61.32 at Friday's close.
ZINC
BUY ZINC AUG @ 410 SL 407 TGT 414-416. MCX
Observations
Zinc trading range for the day is 402.3-418.9.
Zinc prices rose on concern about shortages outside China.
LME zinc stocks at 93,250 tons have dropped 25% since the middle of June.
Stocks of the metal in warehouses approved by the Shanghai Futures Exchange have more than doubled this year.
