Buy Aluminum Jul @ 342 SL 339 TGT 345-347 MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM JUL @ 342 SL 339 TGT 345-347. MCX
Observations
Aluminium trading range for the day is 332.6-350.2.
Aluminium rose as support seen after LME aluminium stocks of 289,225 tons are the lowest since September 2022.
The cash aluminium contract was meanwhile commanding a slight premium of $3.75, after 13 straight days of contango.
Global primary aluminium output in May fell 1.7% year on year to 6.15 million tonnes - IAI
Copper
BUY COPPER JUL @ 1285 SL 1275 TGT 1295-1305. MCX
Observations
Copper trading range for the day is 1251.6-1317.6.
Copper rose as the market hopes for another de-escalation in hostilities in the Gulf and the U.S. dollar dips.
The cash LME copper contract was trading at a $68-a-ton discount to the three-month forward.
Ivanhoe Mines said copper production at its flagship Kamoa-Kakula complex is set to rise in the second half of 2026.
Zinc
BUY ZINC JUL @ 374 SL 372 TGT 376-378. MCX
Observations
Zinc trading range for the day is 365-383.4.
Zinc rose amid tightening near-term supply while manufacturing data supported demand expectations.
The global zinc market surplus narrowed to 26,500 metric tons in April from 56,300 tons in March
Glencore’s Kazzinc facility in Kazakhstan is operating at reduced capacity after an explosion.
