Buy Aluminium Jul @ 227 SL 224 TGT 230-232. MCX - Kedia Advisory
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Aluminium
OBSERVATIONS
Aluminium trading range for the day is 227.3-230.9.
Aluminium dropped as disappointing economic data in top consumer China dampened market sentiment.
China’s increased production by 5% year-on-year to 3.65 million metric tons in May
Domestic alumina supply has struggled to keep up with demand from the smelter restarts in Yunnan.
BUY ALUMINIUM JUL @ 227 SL 224 TGT 230-232. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 856-882.8.
Copper rose amid signs that China's smelters expected the supply shortage of copper concentrates
China's refined copper output grew 8.2% in the first five months to 5.54 million tons this year
Chile's Codelco copper output edges up in May
BUY COPPER JUL @ 865 SL 860 TGT 870-874. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 268.4-277.
Zinc gains as prospects of stronger demand from China triggered short-covering.
China's MMG Ltd has halted operations at a mill at its Dugald River zinc mine in Australia for about two months of repair work.
Zinc inventories in warehouses registered with LME rebounded 9% to their highest level in nearly three months
BUY ZINC JUL @ 272 SL 269 TGT 276-278. MCX
