Buy Copper Jun @ 868 SL 864 TGT 874-878. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 235.7-249.5.
Aluminium dropped triggered by concerns that high interest rates are curbing metals demand
A continued inflow of "wider money" into metals, providing further support for aluminium.
Shortages of alumina, emerged recently because of lower output from China and disruption to Rio Tinto's Australian exports.
BUY ALUMINIUM JUN @ 240 SL 238 TGT 243-245. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 859-888.4.
Copper prices dropped amid profit taking and physical demand weakness in top consumer China.
Pressure also amid worries over U.S. interest rate prospect.
Copper inventories in warehouses monitored by the SHFE rose 6.9% from last release on May 24.
BUY COPPER JUN @ 868 SL 864 TGT 874-878. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 259.7-275.5.
Zinc prices dropped as China's manufacturing activity unexpectedly fell in May.
The global zinc market surplus fell to 52,300 metric tons in March from 66,800 tons in February – ILZSG.
China's refined zinc output was 504,600 mt, a month-on-month decrease of 20,900 mt or 3.99%.
BUY ZINC JUN @ 264 SL 262 TGT 267-269. MCX
