BUY ALUMINIUM JUL @ 248 SL 246 TGT 250-252. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM JUL @ 248 SL 246 TGT 250-252. MCX
OBSERVATIONS
Aluminium trading range for the day is 246.9-251.3.
Aluminium prices rose as concerns over raw material supply resurfaced.
Combined LME and SHFE aluminium inventories remain about 60% lower compared to the same time last year.
China's aluminium production rose by 5.0 % to 3.83 million metric tons in May from a year earlier.
COPPER
BUY COPPER JUL @ 895 SL 890 TGT 900-905. MCX
OBSERVATIONS
Copper trading range for the day is 887.6-909.6.
Copper rose as tight supply in key exchanges magnified the impact that a weak dollar.
LME inventories fell, dropping to 91,275 metric tons—the lowest level in nearly two years
Commerzbank sees 2025 year – end copper price forecast at $9,500/ton
ZINC
BUY ZINC JUL @ 255 SL 253 TGT 257-259. MCX
OBSERVATIONS
Zinc trading range for the day is 253.5-259.7.
Zinc dropped amid a fresh increase in inventories, while markets continued to assess the outlook for demand.
Deliverable zinc at the Shanghai Futures Exchange jumped by 800 tonnes on the last week of June.
Commerzbank sees 2025 year – end zinc price forecast at $2,800/ton
