Sell Aluminium Jun @ 242 SL 245 TGT 239-237. MCX - Kedia Advisory
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Aluminium
OBSERVATIONS
Aluminium trading range for the day is 235.7-245.1.
Aluminium settled flat 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.
SELL ALUMINIUM JUN @ 242 SL 245 TGT 239-237. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 863.2-889.4.
Copper prices dropped due to lacklustre demand in China.
The United States' manufacturing data is weaker than expected.
Indonesia imposes 7.5% export tax on copper concentrate shipments
SELL COPPER JUN @ 866 SL 870 TGT 861-858. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 258-267.8.
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%.
SELL ZINC JUN @ 263 SL 266 TGT 260-258. MCX
