Buy Zinc Sep @ 272 SL 270 TGT 274-276. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM SEP @ 254 SL 252 TGT 256-258. MCX
Observations
Aluminium trading range for the day is 252.8-257.2.
Aluminium pared gains amid worries about U.S. tariffs, which helped to dampen factory activity in parts of Asia.
China's factory activity in August expanded at the quickest pace in five months on the back of rising new orders.
Global primary aluminium output in July rose 2.5% year on year to 6.373 million tonnes – IAI
Copper
BUY COPPER SEP @ 896 SL 892 TGT 903-908. MCX
Observations
Copper trading range for the day is 891.9-908.7.
Copper dropped as LME copper inventories rose to a three-month high
The latest data from the Shanghai Futures Exchange showed inventories edged down during the week.
COMEX copper inventories continued to accumulate, with the latest inventory level reaching 277,843 mt, the highest since January 2004
Zinc
BUY ZINC SEP @ 272 SL 270 TGT 274-276. MCX
Observations
Zinc trading range for the day is 270.1-275.1.
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.
