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Aluminium

OBSERVATIONS

Aluminium trading range for the day is 227.6-232.

Aluminium gains as sentiment was lifted by China's central bank's reinforcement of its easing monetary stance.

Global primary aluminium output rose 3.4% year on year to 6.1 million tons in May

China aluminium production up 7.2 % to 3.65 mln tonnes in May

BUY ALUMINIUM JUL @ 228 SL 226 TGT 230-232. MCX

Copper

OBSERVATIONS

Copper trading range for the day is 842.7-854.9.

Copper dropped amid a significant upturn in LME stocks.

SHFE inventories stand at 322,910 tons compared with about 30,000 tons in January

China's imports of copper scrap have increased significantly in the search for alternative to scarce copper ore

BUY COPPER JUL @ 844 SL 840 TGT 849-854. MCX

Zinc

OBSERVATIONS

Zinc trading range for the day is 253.9-261.1.

Zinc settled flat amid mounting evidence of low demand.

The global zinc market surplus fell to 22,100 metric tons in April from 70,100 tons in March.

In China, zinc concentrate imports decreased by 24% in the first four months of this year compared to the previous year.

BUY ZINC JUL @ 255 SL 253 TGT 258-260. MCX