Buy Copper Sep @ 896 SL 892 TGT 900-904. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM SEP @ 254 SL 252 TGT 256-258. MCX
OBSERVATIONS
Aluminium trading range for the day is 253-256.
Aluminium rises as LME on-warrant stocks drop to lowest since late July.
RatingDog manufacturing PMI in China unexpectedly reflected an expansion in the world's largest manufacturing sector.
Global aluminium producers have offered Japanese buyers premiums of $98-$103 per metric ton for October-December.
COPPER
BUY COPPER SEP @ 896 SL 892 TGT 900-904. MCX
OBSERVATIONS
Copper trading range for the day is 895.8-903.4.
Copper rises on weak dollar, LME stock outflows, and China import demand hopes.
LME-registered copper stocks stood at 155,825 tons, with outflows of 2,125 tons across several locations.
Chinese imports of unwrought copper in August fell from the July to 425,000 tons but rose from a year ago.
ZINC
BUY ZINC SEP @ 275 SL 273 TGT 277-279. MCX
OBSERVATIONS
Zinc trading range for the day is 273.2-278.4.
Zinc climbed amid a softer dollar and capacity constraints in China.
Zinc supply is tightening as Chinese smelters face pressure to cut production due to capacity outpacing demand.
Zinc inventories in warehouses monitored by the SHFE rose 1.2% from last Friday
