Buy Aluminium Jun @ 391 SL 388 TGT 394-397. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM JUN @ 391 SL 388 TGT 394-397. MCX
Observations
Aluminium trading range for the day is 383.5-397.1.
Aluminium prices soared as Middle East supply risks escalated after the U.S. and Iran traded military strikes.
Prices were supported by data showing China’s industrial profits in April grew at the fastest pace since November 2023.
Copper
BUY COPPER JUN @ 1360 SL 1350 TGT 1370-1380. MCX
Observations
Copper trading range for the day is 1345.6-1378.8.
Copper ticked higher by concerns over tightening supply and Goldman Sachs’ higher price forecast.
Goldman Sachs has raised its copper price forecast for end of 2026 to $13,735 ton from $12,465 amid global supply tightens
Citi raised its near-term copper price forecast to $14,500 per metric ton, from a previous forecast of $13,000.
Zinc
BUY ZINC JUN @ 366 SL 363 TGT 369-372. MCX
Observations
Zinc trading range for the day is 363.3-370.5.
Zinc gains supported by tightening supply conditions following recent disruptions.
ILZSG had expected there to be a 19,000-ton deficit in the refined zinc market this year.
Zinc stocks on the LME are equivalent to less than three days of global consumption.
