Sell Copper AUG @ 1380 SL 1390 TGT 1370-1360. MCX - Kedia Advisory
ALUMINIUM
SELL ALUMINIUM AUG @ 348 SL 351 TGT 345-342. MCX
Observations
Aluminium trading range for the day is 342.8-353.4.
Aluminium dropped as improving supply prospects from the Middle East, and the expected return of smelting capacity.
EGA said its Al Taweelah smelter was operating at 18% of capacity and is expected to return to prior output levels in early 2027.
Australia’s biggest aluminum smelter secured a $1.8 billion government bailout, allowing operations to continue and further boosting supply prospects.
COPPER
SELL COPPER AUG @ 1380 SL 1390 TGT 1370-1360. MCX
Observations
Copper trading range for the day is 1349.5-1391.9.
Copper settled flat U.S. inflation data did not affect expectations for next month's Fed interest rate decision.
However, downside seen limited amid inventory outflows from the LME amid uncertainty about potential U.S. tariffs on imports of refined copper.
Chilean miner Antofagasta cut its 2026 copper output estimate to between 625,000 and 655,000 metric tons, from a previous forecast of 650,000 to 700,000 tons.
ZINC
SELL ZINC AUG @ 397 SL 400 TGT 394-391. MCX
Observations
Zinc trading range for the day is 388.4-399.
Zinc dropped as elevated prices weakened demand and discouraged buyers in China.
MMG produces 106,000 tonnes of zinc in H1 and maintains 2026 guidance
China's central bank said it would continue to implement the appropriately loose monetary policy
