Powered by: Motilal Oswal
2024-08-29 10:26:57 am | Source: Kedia Advisory
Sell Copper Sep @ 810 SL 815 TGT 805-800. MCX - Kedia Advisory
Sell Copper Sep @ 810 SL 815 TGT 805-800. MCX - Kedia Advisory

ALUMINIUM

Observation

Aluminium trading range for the day is 225-234.8.

Aluminium dropped as global primary aluminum market has surplus of 97,200 tons in Jun

LME aluminium inventory dropped 22% in three months to 877,950 tons, the lowest since May 8.

China exported 146,708 tons of alumina last month, with 92.5% flowing into Russia.

SELL ALUMINIUM SEP @ 230 SL 232 TGT 228-226. MCX

 

COPPER

Observation

Copper trading range for the day is 799.9-820.3.

Copper prices dropped due to weak economic data and demand concerns.

Physical copper demand in China slightly improved, but concerns remained due to weak factory output.

ShFE stocks have been decreasing since July, currently 75,000 tons below the June peak, with 262,206 tons currently in the stock

SELL COPPER SEP @ 810 SL 815 TGT 805-800. MCX

 

ZINC

Observation

Zinc trading range for the day is 263.7-272.9.

Zinc dropped as concerns over demand from China and a rebound in the U.S. dollar triggered selloffs

China's zinc output fell for a second consecutive month in July, down by 9.2% from June.

14 major Chinese zinc smelters agreed to cut production due to falling treatment charges, reducing profits.

SELL ZINC SEP @ 269 SL 271 TGT 266-264. MCX

Disclaimer: The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references. To Read Complete Disclaimer Click Here