Buy Copper OCT @ 940 SL 935 TGT 946-952. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM OCT @ 255 SL 253 TGT 257-259. MCX
OBSERVATIONS
Aluminium trading range for the day is 254.1-258.5.
Aluminium dropped amid firmer dollar amid quiet trade ahead of a week-long holiday in China.
China’s central bank chief pledged to use a range of monetary policy tools to ensure ample liquidity, and support the country’s economic recovery.
The U.S. will soon cut European car tariffs to 15% from the current 27.5%, fulfilling its pledge under the broader U.S.-EU trade deal announced in July
COPPER
BUY COPPER OCT @ 940 SL 935 TGT 946-952. MCX
OBSERVATIONS
Copper trading range for the day is 926.5-972.1.
Copper eased on profit booking from record high as the panic caused force majeure at its Grasberg mine began to fade.
Goldman Sachs downgrades copper supply forecast after Grasberg mine disruption
Citi raised its 0–3 month and fourth-quarter copper price forecasts to $10,500 per ton from $10,000.
ZINC
BUY ZINC OCT @ 283 SL 281 TGT 286-288. MCX
OBSERVATIONS
Zinc trading range for the day is 282.1-289.9.
Zinc dropped on profit booking after prices gained as LME zinc stocks fell their lowest since May 23.
PBOC introducing measures to support the Chinese economy.
Antamina mine to see 67% rise in zinc production this year ZI
