Buy Zinc SEP @ 278 SL 276 TGT 280-282. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM SEP @ 256 SL 254 TGT 258-260. MCX
OBSERVATIONS
Aluminium trading range for the day is 254.8-261.8.
Aluminium dropped amid Japan's August aluminium stocks rise 6.3% m/m.
China's aluminium production fell by 0.5 % to 3.8 million metric tons in August from a year earlier.
Global primary aluminium output in July rose 2.5% year on year to 6.373 million tonnes.
Copper
BUY COPPER SEP @ 902 SL 898 TGT 906-909. MCX
OBSERVATIONS
Copper trading range for the day is 891.4-920.2.
Copper fell as a stronger supply outlook weighed on the market.
China's refined copper production in August climbed by 14.8% from the prior year to 1.3 million tons
China reported a 5% decline in copper production in early September, removing about 500,000 tons of refined copper.
Zinc
BUY ZINC SEP @ 278 SL 276 TGT 280-282. MCX
OBSERVATIONS
Zinc trading range for the day is 276.2-284.4.
Zinc dropped as traders trimmed positions ahead of a decision on U.S. interest rates from Fed, while demand from China was muted.
However downside seen limited amid weakening US dollar and tightening supply conditions in China.
China will deepen fiscal reforms and use fiscal policy tools to support consumption and investment,.
