Sell Copper Sep @ 893 SL 898 TGT 888-883. MCX - Kedia Advisory
Aluminium
SELL ALUMINIUM SEP @ 253 SL 255 TGT 251-249. MCX
Observations
Aluminium trading range for the day is 251.8-254.4.
Aluminium gained amid support from the impact of lower supply.
European markets continue to face constrained supply due to sanctions on Russia
Global primary aluminium output in July rose 2.5% year on year to 6.373 million tonnes.
Copper
SELL COPPER SEP @ 893 SL 898 TGT 888-883. MCX
Observations
Copper trading range for the day is 881-896.8.
Copper gained amid signs of improving profitability among China's industrial firms.
Still, rising inventories in LME-registered warehouses weighed, increasing by 1,100 tons to 156,000 tons.
Profits at China's industrial firms declined by 1.5% in July year-on-year.
Zinc
SELL ZINC SEP @ 268 SL 270 TGT 266-264. MCX
Observations
Zinc trading range for the day is 264-269.4.
Zinc gained amid likelihood of capacity cuts by Chinese miners and refiners.
The developments were consistent with lower LME inventories, dropped by 130,000 tonnes since the start of the year to 42,000 tonnes.
Euro zone businesses saw new orders increase in August for the first time since May 2024.
