Buy Zinc Jun @ 248 SL 245 TGT 242-244. MCX - Kedia Advisory
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Aluminium
OBSERVATIONS
Aluminium trading range for the day is 230.1-244.9.
Aluminium dropped on stronger dollar amid stronger-than-expected U.S. employment data.
China’s trade data showed better-than-expected exports, suggesting factory owners were managing to find buyers overseas.
Global primary aluminium output in April rose 3.3% year on year to 5.898 million tonnes
BUY ALUMINIUM JUN @ 234 SL 232 TGT 237-239. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 834.7-890.5.
Copper dropped as SHFE inventories are at over four-year high after a surge since the start of 2024.
Unwrought copper imports last month came in higher than expected
China May copper imports jump 15.8% on – year, beat expectations
BUY COPPER JUN @ 850 SL 845 TGT 855-860. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 240.4-267.8.
Zinc prices dropped amid evidence of low demand in the near term.
China’s manufacturing PMI came in below market expectations, pointing to a contraction in manufacturing activity
China's refined zinc output was 504,600 mt, a month-on-month decrease of 20,900 mt or 3.99%
BUY ZINC JUN @ 248 SL 245 TGT 242-244. MCX
