Buy Copper Jul @ 880 SL 876 TGT 885-888. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM JUL @ 249 SL 247 TGT 251-253. MCX
OBSERVATIONS
Aluminium trading range for the day is 245.9-251.7.
Aluminium gains as support seen after China’s aluminium production fell 3.23% MoM in June.
LME aluminium stocks rose by 47,450 tons, flipping cash-to-three-month premium into a discount
Global primary aluminium output in May rose 1.5% year on year to 6.245 million tonnes
COPPER
BUY COPPER JUL @ 880 SL 876 TGT 885-888. MCX
OBSERVATIONS
Copper trading range for the day is 869.3-907.3.
Copper dropped as LME stocks rose by 4,625 tons, easing tightness in the system.
Cash-to-three-month LME spread flipped to a $2 discount after peaking at $320 premium.
COMEX copper premium over LME three-month surged to 27% from 13% pre-tariff announcement.
ZINC
BUY ZINC JUL @ 257 SL 255 TGT 259-261. MCX
OBSERVATIONS
Zinc trading range for the day is 254.1-260.1.
Zinc gained on a weaker dollar but upside capped by fears of tariff-driven demand slowdown.
Trump also warned of an extra 10% levy on BRICS countries for “anti-American” policies
SHFE zinc inventories rose 4% weekly, indicating weaker offtake as factory demand stays sluggish
