Buy Zinc Jul @ 258 SL 255 TGT 262-265. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 218.8-224.2.
Aluminium dropped as SHFE inventories rose to 262,200 tons, the highest since April 2023.
China's June aluminium imports up 16% on – year
Japan buyers agree to pay higher Q3 aluminium premiums reflecting tighter supplies in Asia
BUY ALUMINIUM JUL @ 219 SL 217 TGT 222-224. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 812.7-833.1.
Copper prices dropped due to the lack of Chinese stimulus measures.
China's June imports of copper slipped to a 14-month low.
Copper inventories in LME warehouses, meanwhile, have risen to a 33-month high of 221,100 tons, LME data showed.
BUY COPPER JUL @ 817 SL 813 TGT 822-826. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 254.5-273.1.
Zinc prices dropped amid a weak Chinese economy and the lack of stimulus announcements.
In June, China's refined zinc production was 545,800 mt, up 9,700 mt or 1.81% MoM
Zinc inventories in warehouses registered with the London Metal Exchange rebounded 9% to their highest level in nearly three months
BUY ZINC JUL @ 258 SL 255 TGT 262-265. MCX
