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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