Buy Aluminum Jul @ 328 SL 325 TGT 331-334 MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM JUL @ 328 SL 325 TGT 331-334. MCX
Observations
Aluminium trading range for the day is 324.2-331.4.
Aluminium extended losses amid indications that supply is recovering faster than expected following disruptions from the Iran war.
EGA said it was restoring production sooner than expected at its Al Taweelah complex hit by Iranian strikes in March
Norsk Hydro's Slovak aluminium smelter to partially restart production
Copper
BUY COPPER JUL @ 1270 SL 1260 TGT 1280-1290. MCX
Observations
Copper trading range for the day is 1257.3-1292.9.
Copper prices gained supported by signs of strength in the manufacturing sector.
Data released by China, Europe, and the U.S. showed manufacturing strength despite higher input prices.
A June deadline for a recommendation on potential U.S. tariffs on refined copper came and went with no news from the White House.
Zinc
BUY ZINC JUL @ 359 SL 356 TGT 363-366. MCX
Observations
Zinc trading range for the day is 355.7-363.5.
Zinc dropped as total SHFE stocks have climbed to 154,727 mt, the highest level for this time of year since 2017.
LME COTR report shows long positions declined by 5% and short positions rose by 2%, the highest since March 2024.
U.S. manufacturing activity remained in expansion territory for the sixth consecutive month in June.
