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ALUMINIUM

Observations

Aluminium trading range for the day is 198-204.2

Aluminium prices rise on weaker dollar and China demand hopes

Aluminium inventories in LME-registered warehouses fell to 531,725 metric tons after 2,350 tons of outflows

Japanese buyer agrees to pay Q3 aluminium premium of $127.5/T

BUY ALUMINIUM Jul 2023 @ 200 SL 198 TGT 203-205. MCX

Copper

Copper trading range for the day is 722.6-749.6

Copper prices rose on hopes of more economic stimulus measures from Beijing

China's June copper imports fall 16.4% as soft demand persists

Copper output in Chile sank 14% annually in May

BUY COPPER Jul 2023 @ 735 SL 730 TGT 742-748. MCX

ZINC

Observations

Zinc trading range for the day is 216-222

Zinc gains lifted by hopes of more stimulus for China's property sector.

China's central bank extended until the end of 2024 some policies in a November rescue package to shore up the real estate sector

Global zinc market surplus fell to 12,500 metric tons in April, down from 65,000 tons a month earlier

BUY ZINC Jul 2023 @ 217 SL 214 TGT 221-224. MCX

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