Buy Zinc SEP @ 428 SL 425 TGT 431-434. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM SEP @ 355 SL 352 TGT 358-360. MCX
Observations
Aluminium trading range for the day is 350-359.
Aluminium rallied supported by persistent supply tightness and shrinking inventories.
The ongoing US-Iran conflict has crimped aluminum flows from the Middle East, with GCC output falling 44% year-on-year in July.
LME inventories remained near a 36-year low, while SHFE inventories fell 3% from the previous week.
COPPER
BUY COPPER SEP @ 1420 SL 1410 TGT 1430-1440. MCX
Observations
Copper trading range for the day is 1393.4-1442.8.
Copper prices rallied buoyed by tight supplies outside the United States.
However, upside seen capped as hostilities in the Middle East flared, raising concerns about global growth and demand.
China's imports of unwrought copper and copper products fell to 382,000 tons in August from 425,000 tons in July.
ZINC
BUY ZINC SEP @ 428 SL 425 TGT 431-434. MCX
Observations
Zinc trading range for the day is 420.7-433.7.
Zinc rallied trading LME prices crosses $4,000 for the first time since 2022, as the market faced significant supply pressures.
Production disruptions at several mines, including in China, have raised concerns over concentrate availability.
LME warehouse inventories remain low relative to historical levels, while physical zinc availability remains particularly tight outside China
