Sell Zinc SEP @ 225 SL 227 TGT 222-220. MCX - Kedia Advisory
Aluminium
Observation
Aluminium trading range for the day is 201.9-205.9.
Aluminium gains as supply pressures magnified signs of higher demand.
China halted the expansion of production capacity beyond the current limit of 45 million tons
Global aluminium output rises 2.4% year on year in August – IAI
SELL ALUMINIUM SEP @ 205 SL 207 TGT 203-201. MCX
Copper
Observation
Copper trading range for the day is 722.3-732.9.
Copper rose with more upbeat demand prospects from China.
LME inventories have been rising since mid-July, are at the highest since May 2022 at 155,700 tons
Visible exchange inventory in China amounts to a modest 99,000 metric tons with bonded warehouse stocks at a lowly 43,000 metric tons.
SELL COPPER SEP @ 730 SL 734 TGT 725-720. MCX
Zinc
Observation
Zinc trading range for the day is 218.3-227.9.
Zinc rises on China's stimulus hopes, boosting demand outlook
Zinc stocks in LME warehouses, have been falling to 115,350 tons, the lowest since Aug. 14.
China took in 76,800 metric tons of metal in July, the highest monthly tally since April 2019, indicating renewed appetite.
SELL ZINC SEP @ 225 SL 227 TGT 222-220. MCX
