Buy Aluminium Jun @ 394 SL 391 TGT 397-400. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM JUN @ 394 SL 391 TGT 397-400. MCX
Observations
Aluminium trading range for the day is 391.2-398.4.
Aluminium prices rallied as the market continued to grapple with supply disruptions.
LME inventories dwindled to 335,450 tons, the lowest in almost four years.
EGA’s flagship smelter is expected to take up to a year to return to full capacity, while operations at Bahrain's ALBA remain partially suspended.
Copper
BUY COPPER JUN @ 1375 SL 1365 TGT 1385-1395. MCX
Observations
Copper trading range for the day is 1355.2-1396.8.
Copper rose as tariff uncertainty and tightening supply outside the United States supported the market.
Investors are awaiting a recommendation from U.S. by the end of the month on possible tariffs on imports of refined copper.
COMEX copper's premium over LME price widened, encouraging shipments to U.S. warehouses.
Zinc
BUY ZINC JUN @ 372 SL 369 TGT 375-378. MCX
Observations
Zinc trading range for the day is 364.4-380.2.
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.
