Sell Copper Aug @ 885 SL 890 TGT 880-875. MCX - Kedia Advisory
Aluminium
SELL ALUMINIUM AUG @ 253 SL 255 TGT 251-249. MCX
Observations
Aluminium trading range for the day is 250-255.
Aluminium slipped after the Trump administration widened the scope of its 50% tariffs on aluminium imports
China's imports of unwrought aluminium and products in July surged 38.2% from the prior year.
China's aluminium production rose by 0.6 % to 3.78 million metric tons in July from a year earlier.
Copper
SELL COPPER AUG @ 885 SL 890 TGT 880-875. MCX
Observations
Copper trading range for the day is 877.1-890.1.
Copper falls on strong dollar, Fed outlook uncertainty, and Trump-Zelenskiy meet.
China’s factory output growth slumped to an eight-month low in July.
Citi revised its 0-3 month price forecast for copper to $9,200 per tonne from the previous $8,800.
Zinc
SELL ZINC AUG @ 267 SL 269 TGT 265-263. MCX
Observations
Zinc trading range for the day is 263-270.4.
Zinc declined as a wave of underwhelming economic data from China fueled concerns over softening demand.
Industrial production growth decelerated to a seven-month low in July, from a recent three-month high.
Zinc inventories in warehouses monitored by the SHFE rose 16.5% from last Friday.
