Buy Zinc Jul @ 265 SL 262 TGT 268-270. MCX - Kedia Advisory
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Aluminium
OBSERVATIONS
Aluminium trading range for the day is 229.1-232.3.
Aluminium settled flat amid signs of ample supply magnified the pressure from muted demand.
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 836.5-859.5.
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 @ 8744 SL 840 TGT 848-852. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 262.5-274.1.
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 @ 265 SL 262 TGT 268-270. MCX
