Buy Zinc Sep @ 273.5 SL 271.5 TGT 276-278. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM SEP @ 253 SL 251 TGT 255-257. MCX
OBSERVATIONS
Aluminium trading range for the day is 252.2-256.4.
Aluminium gains amid upbeat economic data from China, and optimism about U.S. interest rate cuts supported sentiment.
Global primary aluminium output in July rose 2.5% year on year to 6.373 million tonnes – IAI
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange dropped 1.2% from last Friday
COPPER
BUY COPPER SEP @ 895 SL 890 TGT 905-910. MCX
OBSERVATIONS
Copper trading range for the day is 889.1-911.7.
Copper dropped as copper inventories in SHFE warehouses rose 2.6 % from last Friday.
In the U.S., inventories in the Comex-owned warehouses, already at their 22-year-high, kept climbing in the week.
In China, the Yangshan copper premium, was steady at its three-month high of $57 a ton.
ZINC
BUY ZINC SEP @ 273.5 SL 271.5 TGT 276-278. MCX
OBSERVATIONS
Zinc trading range for the day is 272.2-278.
Zinc gains as U.S. dollar fell sharply after crucial US jobs data.
Support also seen amid likelihood of capacity cuts by Chinese miners and refiners.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange rose 1.2% from last Friday.
