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Aluminium

SELL ALUMINIUM AUG @ 254 SL 256 TGT 252-250. MCX

Observations

Aluminium trading range for the day is 250.3-257.5.

Aluminium dropped as markets recalibrated their expectations of fiscal support from the Chinese government.

However downside seen limited amid the outlook of lower supply and improved demand from China.

China exported 542,000 tonnes of unwrought aluminium and aluminium products, in July, up from June's 489,000 tonnes.

Copper

SELL COPPER AUG @ 882 SL 888 TGT 876-872. MCX

Observations

Copper trading range for the day is 875.6-889.6.

Copper dropped on profit booking amid cautious optimism over a potential U.S.-China trade deal. 

Copper imports rose 3.4% from a month earlier while copper concentrate imports climbed 9%. 

The refined copper market was in a 272,000 tons surplus in the first five months of 2025.

Zinc

SELL ZINC AUG @ 269 SL 271 TGT 267-265. MCX

Observations

Zinc trading range for the day is 265.7-271.9.

Zinc gains as zinc supply is tightening as Chinese smelters face pressure to cut production due to capacity outpacing demand.

However upside seen limited as demand concerns lingered as China's manufacturing activity contracted in July.

However, production at some smelters in South China was affected by heavy rain.