Buy Zinc OCT @ 220 SL 218 TGT 223-225. MCX - Kedia Advisory
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Aluminium
OBSERVATIONS
Aluminium trading range for the day is 203.9-209.9.
Aluminium gains as China's Aug aluminium imports rise on demand hopes, thin stock
Some Japanese aluminium buyers have agreed to pay global producers a premium of $97 per metric ton
Japan's primary aluminium imports fall 30% in Jan – Aug due to slow demand
BUY ALUMINIUM OCT @ 205 SL 203 TGT 208-210. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 702.1-729.9.
Copper prices rose after traders squared positions ahead of a long public holiday in China.
Shanghai warehouse copper stocks down 28.0%
LME Copper stockpiles have nearly tripled since July to 167,850 tons, the highest since May 2022.
BUY COPPER OCT @ 716 SL 712 TGT 722-726. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 217.9-237.1.
Zinc prices rallied after daily data showed a decline in exchange stocks
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange fell by 30% from last Friday
On-warrant zinc stocks in LME fell to 57,225 metric tons, lowest since late May, after fresh cancellations of 19,225 metric tons.
BUY ZINC OCT @ 220 SL 218 TGT 223-225. MCX
