Sell Aluminium Aug @ 214 SL 216 TGT 212-210. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 210.7-216.3.
Aluminium gains on low level buying after prices dropped amid concerns about demand
Global primary aluminium output rose by 3.9% year-on-year to 35.84 million metric tons in the first half of 2024
Global aluminium output rises 3.2% year on year in June – IAI
SELL ALUMINIUM AUG @ 214 SL 216 TGT 212-210. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 789.4-817.6.
Copper dropped as demand concerns in continued to pressure the market.
Copper inventories in LME warehouses rose to the highest since September 2021
Copper market in 65,000 metric tons surplus in May 2024 – ICSG
SELL COPPER AUG @ 802 SL 806 TGT 797-794. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 250.5-258.1.
Zinc prices dropped on growing concern over demand in China.
In June, China's refined zinc production was 545,800 mt, up 9,700 mt or 1.81% MoM
Zinc inventories in warehouses registered with the London Metal Exchange rebounded 9% to their highest level in nearly three months
SELL ZINC AUG @ 255 SL 258 TGT 252-250. MCX
