SELL ZINC SEP @ 257 SL 259 TGT 254-252. MCX - Kedia Advisory
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ALUMINIUM
Observation
Aluminium trading range for the day is 215.7-223.9.
Aluminium gains as demand side is entering the traditional peak season, consumption is gradually recovering.
However, upside seen limited as concerns about global economic growth kept industrial metals under pressure.
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange fell 1.4% from last Friday
SELL ALUMINIUM SEP @ 222 SL 224 TGT 220-218. MCX
COPPER
Observation
Copper trading range for the day is 774-802.8.
Copper gained on short covering as sentiment took a hit after weak US manufacturing and labor market data.
Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 10.9% this week to their lowest since March.
Goldman Sachs reducing its estimate to an average of $10,100 a ton for 2025, down from a previous estimate of $15,000.
SELL COPPER SEP @ 792 SL 796 TGT 788-784. MCX
ZINC
Observation
Zinc trading range for the day is 250.3-259.9.
Zinc gained on short covering after prices dropped amid weaker-than-expected U.S. jobs data.
Russian zinc miner Ozernoye started production earlier than expected after a fire destroyed its facilities.
China's central bank will better guide market interest rates to stay close to its policy rate, an official from the bank said.
SELL ZINC SEP @ 257 SL 259 TGT 254-252. MCX
