Buy Aluminum Jun @ 355 SL 352 TGT 358-360. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM JUN @ 355 SL 352 TGT 358-360. MCX
Observations
Aluminium trading range for the day is 346.8-364.
Aluminium recovered losses as damage to aluminium smelting facilities, means production is unlikely to ramp up quickly.
China aluminium production up 1.7 % to 3.89 mln metric tons in May
Expectations of fresh aluminium flows pushed the LME cash contract from a premium over the three-month forward to a discount.
Copper
BUY COPPER JUN @ 1335 SL 1325 TGT 1345-1355. MCX
Observations
Copper trading range for the day is 1323.6-1347.
Copper dropped as Middle East uncertainties still lingered despite a preliminary U.S.-Iran deal.
However, risk appetite improved following reports that the US and Iran reached an agreement to end the conflict.
China, retail sales contracted for the first time in over three years, shrinking 0.6% in May.
Zinc
BUY ZINC JUN @ 365 SL 363 TGT 368-370. MCX
Observations
Zinc trading range for the day is 361.9-372.7.
Zinc dropped amid signs of weak demand in China amid falling retail sales data.
China, retail sales contracted for the first time in over three years, shrinking 0.6% in May.
The World Bank cut its global growth outlook for 2026 due to the war and warned of a further decline if energy supply disruptions worsen
