BUY ALUMINIUM JUN @ 232 SL 230 TGT 235-237. MCX - Kedia Advisory
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Aluminium
OBSERVATIONS
Aluminium trading range for the day is 229.5-237.1.
Aluminium dropped as high inventories and weak demand pressured prices.
The discount of the LME cash aluminium contract to the three-month contract expanded to $62.44 a ton
Global primary aluminium output in April rose 3.3% year on year to 5.898 million tonnes
BUY ALUMINIUM JUN @ 232 SL 230 TGT 235-237. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 843.9-870.5.
Copper prices dropped amid evidence of low demand in the near term.
The official manufacturing PMI reflected a contraction in May
Chinese inventories rose to their highest since 2020, beating seasonal factors that favor a drawdown.
BUY COPPER JUN @ 855 SL 850 TGT 860-865. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 246.9-259.5.
Zinc dropped amid a firm dollar and constraints in physical demand.
China’s manufacturing PMI came in below market expectations, pointing to a contraction in manufacturing activity
China's refined zinc output was 504,600 mt, a month-on-month decrease of 20,900 mt or 3.99%
BUY ZINC JUN @ 251 SL 248 TGT 254-256. MCX
