Sell Aluminium Jun @ 235 SL 238 TGT 232-230. MCX - Kedia Advisory
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Aluminium
OBSERVATIONS
Aluminium trading range for the day is 229.9-238.9.
Aluminium dropped as LME inventories more than doubled in just a month
The discount of the LME cash aluminium contract to the three-month contract expanded to $62.44 a ton.
China’s May trade data showed better-than-expected exports, suggesting factory owners were managing to find buyers overseas
SELL ALUMINIUM JUN @ 235 SL 238 TGT 232-230. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 842.9-873.3.
Copper dropped as dollar steadied on Fed rate cut outlook
LME copper inventory rose 22% to 127,343 tonnes over the past one month.
Copper inventories in warehouses monitored by the SHFE are at more than four-year highs
SELL COPPER JUN @ 860 SL 865 TGT 855-850. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 255.2-264.2.
Zinc dropped as China's imports of zinc concentrates fell sharply.
Zinc output sliding 3% year-on-year in the first quarter
LME stocks are at 255,900 tons, up 15% since the start of January.
SELL ZINC JUN @ 261 SL 264 TGT 258-256. MCX
