Sell Copper Sep @ 810 SL 815 TGT 805-800. MCX - Kedia Advisory
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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
