Sell Zinc Sep @ 268 SL 271 TGT 265-263. MCX - Kedia Advisory
ALUMINIUM
Observation
Aluminium trading range for the day is 227.4-234.6.
Aluminium gains as markets now expect fresh government stimulus to boost the economy.
Prices have been boosted by a shrinking aluminium supply that has fallen to its lowest in 18 weeks.
China's Aug aluminium imports up 1.9% y/y
SELL ALUMINIUM SEP @ 232 SL 234 TGT 230-228. MCX
COPPER
Observation
Copper trading range for the day is 800.7-817.1.
Copper recovered due to soft US dollar as markets continued to assess risks of lower near-term demand.
Chinese President Xi Jinping urges authorities to achieve annual economic goals.
Copper inventories in warehouses fell 13.9% from last Friday
SELL COPPER SEP @ 812 SL 816 TGT 807-803. MCX
ZINC
Observation
Zinc trading range for the day is 263.6-274.2.
Zinc dropped as concerns about global economic growth kept industrial metals under pressure.
President Xi Jinping pushed for the country to achieve its annual economic target.
Boliden said the expansion of its Odda zinc smelter in Norway will take longer than expected due to a delay in construction work.
SELL ZINC SEP @ 268 SL 271 TGT 265-263. MCX
