Buy Zinc Jul @ 255 SL 253 TGT 257-259. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM JUL @ 246 SL 244 TGT 248-250. MCX
Observations
Aluminium trading range for the day is 245.3-249.5.
Aluminium falls as Iran-Israel ceasefire eases Hormuz shipping concerns for Middle East aluminium producers.
However, downside seen limited amid softer dollar and improved risk sentiment.
Japan aluminium premium set at $108/T for Q3, down 41% on weak demand.
COPPER
BUY COPPER JUL @ 882 SL 878 TGT 886-890. MCX
Observations
Copper trading range for the day is 880.1-889.7.
Copper gained supported by a sharp decline in global inventories.
London Metal Exchange copper stockpiles have dropped over 63% year-to-date, falling to just 99,000 metric tons.
Cash-to-3-month copper premium drops to $94/ton from $280—highest since Nov 2021.
ZINC
BUY ZINC JUL @ 255 SL 253 TGT 257-259. MCX
Observations
Zinc trading range for the day is 253.6-258.2.
Zinc gains supported by a tentative ceasefire between Iran and Israel, improved the market sentiment.
The global zinc market surplus fell to 16,000 metric tons in April from 23,400 tons in March – ILZSG
Production at some smelters in South China was affected by heavy rain.
