Sell Aluminium SEP @ 351 SL 354 TGT 348-345. MCX - Kedia Advisory
ALUMINIUM
SELL ALUMINIUM SEP @ 351 SL 354 TGT 348-345. MCX
Observations
Aluminium trading range for the day is 344-359.4.
Aluminium dropped as EGA and Alba maintain upbeat restart and ramp up expectations
The premium of the cash LME contract over the benchmark was at $16 per ton, compared with a $5 discount two weeks ago, signalling tighter nearby supply.
China's exports of unwrought aluminium and aluminium products fell to 626,000 metric tons in August from 643,000 tons in July
COPPER
SELL COPPER SEP @ 1375 SL 1385 TGT 1365-1355. MCX
Observation
Copper trading range for the day is 1330.3-1452.1.
Copper dropped after reports that the White House has not decided on tariffs on refined copper.
US officials are weighing that higher copper prices could raise manufacturing costs
The premium of LME cash contract over 3M has eased to $41 a ton from $436 in mid-August, indicating less acute physical tightness.
ZINC
SELL ZINC SEP @ 418 SL 421 TGT 415-412. MCX
Observations
Zinc trading range for the day is 404.6-435.2.
Zinc fell on China export concerns and LME copper's pullback amid tariff shifts.
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.
