Sell Zinc AUG @ 267 SL 269 TGT 265-263. MCX - Kedia Advisory
ALUMINIUM
SELL ALUMINIUM AUG @ 251 SL 253 TGT 249-247. MCX
OBSERVATIONS
Aluminium trading range for the day is 247.4-252.
Aluminium climbed as lower inventories and signs of improving demand in China boosted prices.
Global primary aluminium output in July rose 2.5% year-on-year to 6.373 million tonnes – IAI
Investors are closely watching for cues from Federal Reserve Chair Jerome Powell's speech on Friday for a test of bets on a rate cut.
COPPER
SELL COPPER AUG @ 879 SL 883 TGT 875-872. MCX
OBSERVATIONS
Copper trading range for the day is 866.5-883.5.
Copper rises as euro zone new orders grow in August for first time since May 2024
Chilean copper giant Codelco said it would lower its 2025 production guidance
Goldman Sachs sees upside risk to 2026/2027 copper price forecasts of $10,000/10,750/t
ZINC
SELL ZINC AUG @ 267 SL 269 TGT 265-263. MCX
OBSERVATIONS
Zinc trading range for the day is 261.8-267.8.
Zinc prices dropped as the production of major overseas zinc mines increased by over 12% YoY.
Zinc supply is tightening as Chinese smelters face pressure to cut production due to capacity outpacing demand.
However, production at some smelters in South China was affected by heavy rain.
