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21-09-2023 11:37 AM | Source: Kedia Advisory
Sell Zinc SEP @ 225 SL 227 TGT 222-220. MCX - Kedia Advisory

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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





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