Buy Zinc Jul @ 263 SL 261 TGT 266-268. MCX - Kedia Advisory
Aluminium
OBSERVATIONS
Aluminium trading range for the day is 228.3-233.9.
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
BUY ALUMINIUM JUL @ 229 SL 227 TGT 231-233. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 830.2-856.8.
Copper gains as physical demand in China has been picking up.
Inventories of copper in LME-approved warehouses climbed to 180,125 tons on June 27, from around 104,000 tons in mid May.
The Yangshan copper discount has tightened to $7 a ton on June 28, from as low as a $20-discount in May.
BUY COPPER JUL @ 843 SL 838 TGT 848-852. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 260.9-270.7.
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
