Sell Copper Sep @ 908 SL 912 TGT 903-900. MCX - Kedia Advisory
ALUMINIUM
SELL ALUMINIUM SEP @ 256 SL 258 TGT 254-252. MCX
OBSERVATIONS
Aluminium trading range for the day is 253.6-256.4.
Aluminium dropped amid worries about U.S. tariffs, which helped to dampen factory activity in parts of Asia.
The global primary aluminium market experienced a supply surplus in June.
China's factory activity in August expanded at the quickest pace in five months on the back of rising new orders.
COPPER
SELL COPPER SEP @ 908 SL 912 TGT 903-900. MCX
OBSERVATIONS
Copper trading range for the day is 897.1-914.1.
Copper prices dropped on profit booking after prices rose amid upbeat Chinese economic data.
Further, concerns about the economic growth due to broad U.S. import tariffs persist and weigh on sentiment.
China services activity expanded at the quickest pace in 15 months in August.
ZINC
SELL ZINC SEP @ 276 SL 278 TGT 274-272. MCX
OBSERVATIONS
Zinc trading range for the day is 272.1-279.1.
Zinc gains amid likelihood of capacity cuts by Chinese miners and refiners.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange rose 1.3% from last Friday.
Zinc supply is tightening as Chinese smelters face pressure to cut production due to capacity outpacing demand.
