Sell Zinc Sep @ 267 SL 269 TGT 265-263. MCX - Kedia Advisory
Aluminium
SELL ALUMINIUM SEP @ 253 SL 255 TGT 251-249. MCX
Observations
Aluminium trading range for the day is 250.9-255.9.
Aluminium dropped after reports the global primary aluminium market experienced a supply surplus in June.
Prices were pressured by a firmer dollar after U.S. President Donald Trump's move to fire Fed Governor Lisa Cook.
Aluminium stocks at three major Japanese ports fell to 315,400 metric tons at the end of July, down 0.4% from the previous month
Copper
SELL COPPER SEP @ 887 SL 892 TGT 882-878. MCX
Observations
Copper trading range for the day is 880.1-889.1.
Copper slipped weighed down by a stronger dollar, rising inventories and concern about demand in China.
LME copper inventories, added another 1,100 tons, have surged by 72% since late June to 156,100 tons.
COMEX stocks have nearly tripled so far this year.
Zinc
SELL ZINC SEP @ 267 SL 269 TGT 265-263. MCX
Observations
Zinc trading range for the day is 263.7-269.5.
Zinc dropped as the dollar firmed and investors booked profits.
The global zinc market deficit fell to 27,200 metric tons in June from a deficit of 31,400 tons in May.
Inventories in LME warehouses, dropped by 130,000 tonnes since the start of the year to 42,000 tonnes.
