IGI Logo

Aluminium

OBSERVATIONS

Aluminium trading range for the day is 231.4-234.8.

Aluminium dropped 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 @ 232 SL 230 TGT 235-237. MCX

Copper

OBSERVATIONS

Copper trading range for the day is 857.2-875.2.

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 @ 865 SL 861 TGT 870-874. MCX

Zinc

OBSERVATIONS

Zinc trading range for the day is 271.5-277.3.

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 @ 273 SL 271 TGT 276-278. MCX