Buy Aluminum Jun @ 328 SL 325 TGT 331-334. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM JUN @ 328 SL 325 TGT 331-334. MCX
Observations
Aluminium trading range for the day is 319.3-350.3.
Aluminium prices fell amid a continued unwinding of the Middle East risk premium
LME cash-to-three-month premium was in a slight contango at $-3.46 a ton, suggesting an improvement in supply.
Global primary aluminium output in May fell 1.7% year on year to 6.15 million tonnes – IAI
Copper
BUY COPPER JUN @ 1220 SL 1210 TGT 1230-1240. MCX
Observations
Copper trading range for the day is 1181.1-1303.1.
Copper dropped as dollar continued to draw support from expectations that Fed will keep monetary policy restrictive.
The dollar index extended its gains to above 101.7, reaching its highest level since March 2025.
Pressure also seen after the United States granted Iran a 60-day sanctions waiver following initial peace talks.
Zinc
BUY ZINC JUN @ 352 SL 349 TGT 355-357. MCX
Observations
Zinc trading range for the day is 345.5-367.3.
Zinc dropped as the U.S. dollar touched a 13-month high as investors positioned for Fed rate hikes.
China's zinc production in May rose 9.40% year-on-year to 64,000 metric tons.
China's central bank will continue to implement an appropriately loose monetary policy, and strengthen financial support.
