Buy Zinc SEP @ 418 SL 415 TGT 421-424. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM SEP @ 348 SL 345 TGT 351-354. MCX
Observations
Aluminium trading range for the day is 345.4-352.2.
Aluminium gains on supply tightness and availability concerns.
However, downside seen limited as EGA and Alba maintain upbeat restart and ramp up expectations.
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange fell 6.8% from last Friday
COPPER
BUY COPPER SEP @ 1380 SL 1370 TGT 1390-1400. MCX
Observations
Copper trading range for the day is 1368.2-1397.2.
Copper rose as the prospect of shortages outside the U.S. spurred buying, while the softer dollar reinforced positive sentiment.
Copper prices on ShFE are also in backwardation suggesting the industry in China is also worried about supplies.
The premium for the cash over the three-month forward climbed above $430 a ton in the middle of August, the highest since 2021.
ZINC
BUY ZINC SEP @ 418 SL 415 TGT 421-424. MCX
Observations
Zinc trading range for the day is 416.6-422.
Zinc prices rose supported by tight supplies and low LME stocks.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange fell 3.3% from last Friday
Glencore reported own-sourced zinc production of 365,600 tonnes for H1 2026, down 99,600 tonnes, or 21%, year on year.
