Buy Aluminium Jul @ 249 SL 247 TGT 251-253. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM JUL @ 249 SL 247 TGT 251-253. MCX
OBSERVATIONS
Aluminium trading range for the day is 248.7-250.9.
Aluminium gains as support seen after China’s aluminium production fell 3.23% MoM in June.
LME aluminium stocks rose by 47,450 tons, flipping cash-to-three-month premium into a discount
Global primary aluminium output in May rose 1.5% year on year to 6.245 million tonnes
COPPER
BUY COPPER JUL @ 882 SL 878 TGT 886-890. MCX
OBSERVATIONS
Copper trading range for the day is 879.7-892.5.
Copper prices jumped after Trump confirmed a 50% tariff on imports effective August 1.
Tariff news pushed US copper futures premium over LME contracts to record 25% level.
Private survey showed China’s June manufacturing returned to growth, easing US trade tensions.
ZINC
BUY ZINC JUL @ 260 SL 258 TGT 262-264. MCX
OBSERVATIONS
Zinc trading range for the day is 257.2-263.
Zinc gained on a weaker dollar but upside capped by fears of tariff-driven demand slowdown.
Trump also warned of an extra 10% levy on BRICS countries for “anti-American” policies
SHFE zinc inventories rose 4% weekly, indicating weaker offtake as factory demand stays sluggish
