Buy Aluminum Jul @ 342 SL 340 TGT 345-347. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM JUL @ 342 SL 340 TGT 345-347. MCX
Observations
Aluminium trading range for the day is 339.6-346.6.
Aluminium gains amid supply concerns and LME stocks were at their lowest levels since 2022.
Global primary aluminium output in June fell 1.5% year-on-year to 5.98 million metric tons - IAI
Aluminium stocks at three major Japanese ports fell to 220,300 metric tons at the end of June,down about 7.8% from the previous month.
Copper
BUY COPPER JUL @ 1335 SL 1325 TGT 1345-1355. MCX
Observations
Copper trading range for the day is 1307.6-1359.2.
Copper ticked up supported by fears of supply-side tightness and strong Chinese buying
Chile, raised its 2026 copper price forecast to an average of $5.90 per pound from a previous estimate of $5.46 per pound.
The Yangshan copper premium, increased to $103 a ton on Monday, its highest since May 2025.
Zinc
BUY ZINC JUL @ 374 SL 371 TGT 377-380. MCX
Observations
Zinc trading range for the day is 372.6-379.6.
Zinc gains as investors weighed diplomatic efforts to de-escalate the US-Iran conflict and their potential impact on oil prices, inflation risks.
The global zinc market surplus declined to 8,700 metric tons in May from 43,400 tons in April - ILSZG
China's cabinet, chaired by Premier Li Qiang, vowed to ensure the economy achieves its full-year growth target after second-quarter GDP growth slowed to 4.3%.
