Sell Aluminium Aug @ 254 SL 256 TGT 252-250. MCX - Kedia Advisory
ALUMINIUM
SELL ALUMINIUM AUG @ 254 SL 256 TGT 252-250. MCX
Observations
Aluminium trading range for the day is 252.7-255.5.
Aluminium gains as participants in Chinese metals markets closely monitored progress in U.S.-China trade discussions.
The outlook of lower supply and improved demand from China also supported prices.
Supply for European factories is already limited due to sanctions of major producer Russia.
COPPER
SELL COPPER AUG @ 898 SL 902 TGT 894-890. MCX
Observations
Copper trading range for the day is 893.4-903.
Copper prices fell as traders await clarity on U.S.-China tariff extension
Chile requests U.S. tariff exemption amid fears of trade disruptions
LME inventories continued to accumulate, with the inventory level reaching hitting a one-and-a-half-month high.
ZINC
SELL ZINC AUG @ 268 SL 270 TGT 266-264. MCX
Observations
Zinc trading range for the day is 265.7-269.7.
Zinc dropped as investors are focused on a potential trade deal with the China.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange rose 8.8% from last Friday.
Zinc supply is tightening as Chinese smelters face pressure to cut production due to capacity outpacing demand.
