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22-07-2024 10:13 AM | Source: Kedia Advisory
Buy Zinc Jul @ 258 SL 255 TGT 262-265. MCX - Kedia Advisory

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ALUMINIUM

OBSERVATIONS

Aluminium trading range for the day is 218.8-224.2.

Aluminium dropped as SHFE inventories rose to 262,200 tons, the highest since April 2023.

China's June aluminium imports up 16% on – year

Japan buyers agree to pay higher Q3 aluminium premiums reflecting tighter supplies in Asia

BUY ALUMINIUM JUL @ 219 SL 217 TGT 222-224. MCX

 

COPPER

OBSERVATIONS

Copper trading range for the day is 812.7-833.1.

Copper prices dropped due to the lack of Chinese stimulus measures.

China's June imports of copper slipped to a 14-month low.

Copper inventories in LME warehouses, meanwhile, have risen to a 33-month high of 221,100 tons, LME data showed.

BUY COPPER JUL @ 817 SL 813 TGT 822-826. MCX

 

ZINC

OBSERVATIONS

Zinc trading range for the day is 254.5-273.1.

Zinc prices dropped amid a weak Chinese economy and the lack of stimulus announcements.

In June, China's refined zinc production was 545,800 mt, up 9,700 mt or 1.81% MoM

Zinc inventories in warehouses registered with the London Metal Exchange rebounded 9% to their highest level in nearly three months

BUY ZINC JUL @ 258 SL 255 TGT 262-265. MCX

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