Buy Zinc Jul @ 382 SL 379 TGT 385-388. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM JUL @ 341 SL 338 TGT 344-346. MCX
Observations
Aluminium trading range for the day is 338.2-348.8.
Aluminium dropped amid restart of EGA’s Al Taweelah alumina refinery following a three-and-a-half-month outage.
Dollar index appreciated to 101.50, the highest level in about three weeks, amid expectations that the Fed will need to raise interest rates.
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange fell 4.4% from last Friday.
Copper
BUY COPPER JUL @ 1315 SL 1305 TGT 1325-1335. MCX
Observations
Copper trading range for the day is 1303.8-1335.
Copper gained as SHFE inventories fell by 12.9% from last week to 69,610 tons, the lowest since February 2024.
Output at BHP-controlled Escondida fell 17.6% to 108,800 tons, while production at the Collahuasi mine dropped 19.3% to 31,000 tons.
Comex copper stocks rose to a record 639,147 metric tons ahead of a possible import tariff on the metal.
Zinc
BUY ZINC JUL @ 382 SL 379 TGT 385-388. MCX
Observations
Zinc trading range for the day is 378.4-387.8.
Zinc gained supported by demand hopes, pressure on inventories, and supply concerns.
Euro zone business activity returned to growth in July for the first time in four months, driven by a rebound in new orders.
The global zinc market surplus declined to 8,700 metric tons in May from 43,400 tons in April - ILZSG
