Buy Zinc Sep @ 272 SL 270 TGT 274-276. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM SEP @ 252 SL 250 TGT 254-256. MCX
Observations
Aluminium trading range for the day is 252.1-255.5.
Aluminium dropped amid worries about U.S. tariffs, which helped to dampen factory activity in parts of Asia.
The global primary aluminium market experienced a supply surplus in June.
China's factory activity in August expanded at the quickest pace in five months on the back of rising new orders.
Copper
BUY COPPER SEP @ 898 SL 894 TGT 903-908. MCX
Observations
Copper trading range for the day is 896-904.8.
Copper dropped as demand worries overshadowed supply constraints from declining Chinese output.
China's manufacturing activity shrank for a fifth straight month in August, suggesting sluggish domestic demand.
Top producer China's refined copper production this month is set for a rare fall, the first for the period since 2016.
Zinc
BUY ZINC SEP @ 272 SL 270 TGT 274-276. MCX
Observations
Zinc trading range for the day is 270.7-276.7.
Zinc falls as weak China industrial activity clouds demand outlook.
However downside seen limited amid likelihood of capacity cuts by Chinese miners and refiners.
LME zinc stocks have slid 76% so far this year.
