Buy Copper Jul @ 882 SL 878 TGT 886-890. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM JUL @ 249 SL 247 TGT 251-253. MCX
OBSERVATIONS
Aluminium trading range for the day is 247.8-251.
Aluminium prices fell as Shanghai Futures Exchange inventories rose sharply by 9.1% week-on-week.
China’s June aluminium production slipped 3.23% month-on-month, but annual output remains higher overall.
Global primary aluminium output rose 1.5% year-on-year in May to 6.245 million tonnes, IAI said.
COPPER
BUY COPPER JUL @ 882 SL 878 TGT 886-890. MCX
OBSERVATIONS
Copper trading range for the day is 876.4-890.8.
Copper prices eased after initial spike on Trump’s 50% US import tariff announcement.
Copper inventories in warehouses monitored by the Shanghai Futures Exchange dropped 3.7% from last Friday.
ICSG: April global refined copper market flipped to a 50,000 metric ton deficit
ZINC
BUY ZINC JUL @ 258 SL 256 TGT 260-262. MCX
OBSERVATIONS
Zinc trading range for the day is 255.7-263.5.
Zinc dropped amid worries about economic slowdown and demand growth caused by Trump’s tariffs.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange rose 10.20% from last Friday
Production at some smelters in South China was affected by heavy rain.
