Buy Zinc SEP @ 418 SL 415 TGT 422-426. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM SEP @ 350 SL 347 TGT 353-355. MCX
Observations
Aluminium trading range for the day is 347.1-354.9.
Aluminium gained due to worries about the effect of the Iran war on supplies from the Gulf producers.
Aluminium Bahrain is producing aluminium at an annualised rate of 1.3 million tons, down 19% from its pre-war capacity.
China aluminium production up 4.7 % to 3.98 mln metric tons in Aug – stats bureau
COPPER
BUY COPPER SEP @ 1368 SL 1358 TGT 1378-1388. MCX
ObservationsCopper trading range for the day is 1364.4-1381.4.
Copper rose supported by signs of active demand in China
Chinese buyers are taking advantage of the recent price dip to restock copper, helping lift import premiums.
The Yangshan copper premium, rose 7% to $118 per ton, its highest level in almost four years, on Wednesday.
ZINC
BUY ZINC SEP @ 418 SL 415 TGT 422-426. MCX
Observations
Zinc trading range for the day is 415.3-424.9.
Zinc prices gained supported by tight inventories outside China.
The premium of the LME cash contract over the three-month contract at $124 per ton.
Production disruptions at several mines, including in China, have raised concerns over concentrate availability.
