Buy Aluminium Jul @ 228 SL 226 TGT 230-232. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 226.6-231.
Aluminium steadied as soft economic data for key manufacturing economies raised expectations of government support.
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 @ 228 SL 226 TGT 230-232. MCX
COPPER.
OBSERVATIONS
Copper trading range for the day is 843.2-882.
Copper prices rose amid weak dollar and hopes that the growth stockpiles could be coming to an end
U.S. producer prices rose moderately in June, strengthening the case for a September interest rate cut.
China June unwrought copper imports slide to 14 – month low
BUY COPPER JUL @ 865 SL 861 TGT 870-875. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 269.1-275.7.
Zinc prices gains amid fuelling optimism over demand in China.
China's refined zinc output in May 2024 up 6.26% MoM.
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.
BUY ZINC JUL @ 271 SL 268 TGT 274-276. MCX
