Sell Aluminium Sep @ 226 SL 228 TGT 224-222. MCX - Kedia Advisory
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ALUMINIUM
Observation
Aluminium trading range for the day is 222.1-231.1.
Aluminium dropped pressured by concern about excess supplies as inventories climb in SHFE-approved warehouses
SHFE aluminium stocks have gained 36% over the past three months.
Aluminium supply remains elevated, while downstream demand recovery in China is limited
SELL ALUMINIUM SEP @ 226 SL 228 TGT 224-222. MCX
COPPER
Observation
Copper trading range for the day is 797.6-818.8.
Copper dropped pressured by rising inventories, lacklustre demand in China and a strong dollar.
Chile's copper output increased around 2% year-on-year in the month to 443,633 metric tons.
LME copper inventories increased by 8,700 tons to 322,950 tons, the highest for about five years.
SELL COPPER SEP 808 SL 812 TGT 804-800, MCX
ZINC
Observation
Zinc trading range for the day is 265.7-272.9.
Zinc remains supported by reduced supply and seasonal demand uplift.
Limited upside due to concerns about China's demand recovery.
Treatment charges for zinc concentrates have fallen to historical lows.
SELL ZINC SEP @ 270 SL 272 TGT 267-265. MCX
