Sell Copper Sep @ 1375 SL 1385 TGT 1365-1355. MCX - Kedia Advisory
ALUMINIUM
SELL ALUMINIUM SEP @ 347 SL 350 TGT 344-342. MCX
Observations
Aluminium trading range for the day is 343.1-349.7.
Aluminium dropped as China’s manufacturing activity contracted for the second consecutive month in August
Aluminium stocks at three major Japanese ports fell to 201,000 metric tons at the end of July, down 8.8% from the previous month.
EGA and Alba Aluminium in the Middle East are ramping up production resumption at a fairly fast pace.
COPPER
SELL COPPER SEP @ 1375 SL 1385 TGT 1365-1355. MCX
Observations
Copper trading range for the day is 1352.5-1405.9.
Copper prices dropped amid a stronger dollar and a global bond selloff
UBS sees copper market deficit to widen to 379,000 metric tons in 2027, from 219,000 metric tons in 2026
UBS retains constructive view on copper, expects prices to reach its target of $15,500/mt for coming quarters
ZINC
SELL ZINC SEP @ 417 SL 420 TGT 414-412. MCX
Observations
Zinc trading range for the day is 409.2-425.6.
Zinc dropped on profit booking after prices gained supported by supply concerns.
Available LME inventories, slumped to 68,250 tons, down 28% in less than a week to their weakest since December last year.
Bullish speculative positions on the LME are at their largest since the second quarter of 2022.
