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Aluminium

OBSERVATIONS

Aluminium trading range for the day is 227.2-233.4.

Aluminium gains as sentiment was lifted by China's central bank's reinforcement of its easing monetary stance.

Global primary aluminium output rose 3.4% year on year to 6.1 million tons in May

China aluminium production up 7.2 % to 3.65 mln tonnes in May ALUMINIUM AUG-JUL 0.10

BUY ALUMINIUM JUL @ 229 SL 227 TGT 231-233. MCX

Copper

OBSERVATIONS

Copper trading range for the day is 831.6-850.6.

Copper gains as Shanghai warehouse copper stocks down 1% week on week

The latest PMI reports have so far pointed to a poor outlook for manufacturing in major economies

Chinese copper inventories also held near their highest since 2020 in June

BUY COPPER JUL @ 836 SL 832 TGT 845-848. MCX

Zinc

OBSERVATIONS

Zinc trading range for the day is 262.1-270.5.

Zinc gains amid hopes of improved demand in China following recent price drops and supply concerns.

The global zinc market surplus fell to 22,100 metric tons in April from 70,100 tons in March.

In China, zinc concentrate imports decreased by 24% in the first four months of this year compared to the previous year.

BUY ZINC JUL @ 263 SL 261 TGT 266-268. MCX