Buy Zinc Sep @ 411 SL 408 TGT 414-416. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM SEP @ 343 SL 340 TGT 346-348. MCX
Observations
Aluminium trading range for the day is 341.7-348.3.
Aluminium dropped amid expectations of production restarts in the Middle East, and suppliers have turned to alternative shipping routes.
China Q2 GDP growth slowing to 4.3%, policymakers may need additional support to sustain growth and meet the annual target.
China's aluminium production rose by 3.8 % to 3.9 million metric tons in July from a year earlier.
Copper
BUY COPPER SEP @ 1385 SL 1375 TGT 1395-1405. MCX
Observations
Copper trading range for the day is 1377.1-1414.9.
Copper dropped weighed by a higher dollar and gloomy macroeconomics.
China's general public budget expenditure increased 1.3% year-on-year to CNY 16.29 trillion in the first seven months of 2026.
The global refined copper market showed a 60,000 metric tons deficit in June, compared with a 15,000 metric tons surplus in May.
Zinc
BUY ZINC SEP @ 411 SL 408 TGT 414-416. MCX
Observations
Zinc trading range for the day is 406.8-422.
Zinc prices gains on supply worries and concern about shortages outside China.
LME inventories slumped by 31% over the two months up to August 17.
The shortages have sent premium of cash LME zinc over 3M to $132, up from zero in early July and highest since last December.
