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Aluminium

OBSERVATIONS

Aluminium trading range for the day is 227.5-234.7.

Aluminium gains on short covering after prices dropped amid disappointing May industrial output from China.

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

China's May aluminium imports surge 61% year – on – year

BUY ALUMINIUM JUN @ 230 SL 228 TGT 233-235. MCX

Copper

OBSERVATIONS

Copper trading range for the day is 847.1-861.7.

Copper gains amid concerns that Chinese smelters may reduce capacity.

Stockpiles in LME warehouses climbed to a six-month high amid a subdued demand outlook.

Inventory at LME-approved warehouses rose to 155,850 tons, pointing to lackluster demand

BUY COPPER JUN @ 850 SL 845 TGT 855-859. MCX

Zinc

OBSERVATIONS

Zinc trading range for the day is 258.3-263.3.

Zinc gains as focus switched to shortages while fund buying added momentum.

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

There has been no recovery so far this year, output sliding another 3% year-on-year in the first quarter.

BUY ZINC JUN @ 259 SL 256 TGT 262-264. MCX