Buy Zinc JUN @ 256 SL 253 TGT 259-262. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 236.2-241.8.
Aluminium dropped amid concerns that high interest rates are curbing metals demand.
A continued inflow of "wider money" into metals, providing further support for aluminium.
Shortages of alumina, emerged recently because of lower output from China and disruption to Rio Tinto's Australian exports
BUY ALUMINIUM JUN @ 238 SL 235 TGT 241-243. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 851.9-880.3.
Copper gains supported by a softer dollar and prospects of earlier U.S. rate cuts amid weak economic data.
The United States' manufacturing data is weaker than expected.
Indonesia imposes 7.5% export tax on copper concentrate shipments
BUY COPPER JUN @ 865 SL 860 TGT 872-878. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 253.5-263.9.
Zinc prices dropped as China's manufacturing activity unexpectedly fell in May.
The global zinc market surplus fell to 52,300 metric tons in March from 66,800 tons in February – ILZSG.
China's refined zinc output was 504,600 mt, a month-on-month decrease of 20,900 mt or 3.99%.
BUY ZINC JUN @ 256 SL 253 TGT 259-262. MCX
