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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