Buy Aluminium Jun @ 385 SL 382 TGT 388-390. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM JUN @ 385 SL 382 TGT 388-390. MCX
Observations
Aluminium trading range for the day is 382.1-389.1.
Aluminium dropped on profit booking after prices rose amid prolonged supply disruptions from the Middle East.
Available LME aluminium stocks have fallen to a one-year low of 254,625 tons, daily LME data showed.
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange rose 0.1% from last Friday.
Copper
BUY COPPER JUN @ 1345 SL 1335 TGT 1355-1365. MCX
Observations
Copper trading range for the day is 1337.6-1365.6.
Copper prices dropped on MCX due to Rupee firmness above 95 levels as hopes of a U.S.-Iran peace deal pushed oil prices lower.
Copper output in Chile, plummeted by 13.8% year-on-year in April to 399.954 metric tons, statistics agency INE said.
Commerzbank expects copper prices to increase to 14,250 by mid-2027
Zinc
BUY ZINC JUN @ 364 SL 361 TGT 367-370. MCX
Observations
Zinc trading range for the day is 360.6-371.2.
Zinc edged lower as investors waited for more news about a potential deal to extend a ceasefire in Iran and as the dollar firmed.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange rose 0.7% from last Friday, the exchange said.
Swedish miner Boliden said production at its Garpenberg zinc mine will be resumed in the second quarter.
