Buy Zinc Sep @ 270 SL 268 TGT 272-274. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM SEP @ 254 SL 252 TGT 256-258. MCX
Observations
Aluminium trading range for the day is 251.9-257.3.
Aluminium gained amid support from the impact of lower supply.
European markets continue to face constrained supply due to sanctions on Russia
Global primary aluminium output in July rose 2.5% year on year to 6.373 million tonnes.
Copper
BUY COPPER SEP @ 898 SL 894 TGT 903-908. MCX
Observations
Copper trading range for the day is 887.1-908.5.
Copper gains due to a weaker dollar and rising bets that the Federal Reserve will cut interest rates in September.
Copper inventories in warehouses monitored by the SHFE fell 2.4% from last Friday, the exchange said.
Copper output in Chile, registered a slight increase of 0.3% year-on-year in July to 445,214 metric tons.
Zinc
BUY ZINC SEP @ 270 SL 268 TGT 272-274. MCX
Observations
Zinc trading range for the day is 265.1-275.5.
Zinc gained amid likelihood of capacity cuts by Chinese miners and refiners.
The developments were consistent with lower LME inventories, dropped by 130,000 tonnes since the start of the year to 42,000 tonnes.
Euro zone businesses saw new orders increase in August for the first time since May 2024.
