Buy Zinc Jul @ 271 SL 269 TGT 274-276. MCX - Kedia Advisory
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Aluminium trading range for the day is 229.2-236.2.
Aluminium gains as sentiment 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 @ 232 SL 230 TGT 235-237. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 841.5-877.3.
Copper prices climbed with renewed hopes of U.S. rate
Fed’s Powell struck a moderately dovish tone, suggesting that the U.S. central bank is more than likely to start its easing cycle later this year.
China's services activity expanded at the slowest pace in eight months and confidence hit a four-year low in June.
BUY COPPER JUL @ 860 SL 856 TGT 865-868. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 265.6-277.2.
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 @ 271 SL 269 TGT 274-276. MCX
