Buy Zinc SEP @ 220 SL 217 TGT 223-225. MCX - Kedia Advisory
ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 201.5-204.7.
Aluminium falls on China's weak post-pandemic rebound, hurting demand
China's primary aluminium output in August rose by 3.1% from the same month a year earlier
OECD sees global growth slowing
BUY ALUMINIUM SEP @ 202 SL 200 TGT 204-205. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 721.8-733.6.
Copper fell amid weak industrial sentiment worldwide.
Increasingly restrictive interest rates in North America and Europe continued to pressure industrial activity
Output from Chilean state-owned Codelco sank by 14% in the first half of the year, stretching the 7% decline from 2022.
BUY COPPER SEP @ 725 SL 721 TGT 730-733. MCX
ZINC
OBSERVATION
Zinc trading range for the day is 219.7-224.7.
Zinc dropped due to sluggish economic growth in China
The People’s Bank of China is also expected to release its loan prime rate decisions on Friday.
China's central bank has also responded to the currency’s weakness by lowering the foreign exchange reserve requirement ratio by 200 basis points to 4%
BUY ZINC SEP @ 220 SL 217 TGT 223-225. MCX
