SELL ZINC SEP @ 269 SL 271 TGT 266-264. MCX - Kedia Advisory
ALUMINIUM
Observation
Aluminium trading range for the day is 227.5-235.1.
Aluminium gains supported by lower inventory, a weaker dollar
Prices have been boosted by a shrinking aluminium supply that has fallen to its lowest in 18 weeks.
The inventory in LME's registered warehouses dropped to 820,850 tons, having fallen 18% over the last three months.
SELL ALUMINIUM SEP @ 230 SL 232 TGT 228-226. MCX
COPPER
Observation
Copper trading range for the day is 791-823.4.
Copper gains amid hopes that economic stimulus in China will boost demand.
Chile state miner Codelco produced 111,400 metric tons of copper in July, down 10.7% from a year earlier.
Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 13.9% from last Friday.
SELL COPPER SEP @ 805 SL 809 TGT 800-796. MCX
ZINC
Observation
Zinc trading range for the day is 264.4-273.6.
Zinc gains lifted by hopes of stimulus in China
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 @ 269 SL 271 TGT 266-264. MCX
