Sell Aluminum Jul @ 335 SL 338 TGT 332-330 MCX - Kedia Advisory
Aluminium
SELL ALUMINIUM JUL @ 335 SL 338 TGT 332-330. MCX
Observations
Aluminium trading range for the day is 329.7-335.9.
Aluminium prices rose as markets weighed potential supply tightness amid Middle East tensions
Goldman Sachs lowers Q4 2026 aluminium forecast to $2,950/t and 2027 average forecast to $2,700/t
Goldman reduces 2026 deficit to 100kt and lifts 2027 surplus to around 1.5mt
Copper
SELL COPPER JUL @ 1280 SL 1290 TGT 1270-1260. MCX
Observations
Copper trading range for the day is 1265.4-1291.6.
Copper dropped as fears of U.S. rate hikes later this year have weighed as they could dampen economic activity and demand
The market is awaiting a decision by Washington on possible import tariffs on refined copper, while outflows from the LME stocks to the U.S. continue.
China's Yangshan copper premium, which reflects buying appetite, rose 8% to $80 a ton, its 13-month high.
Zinc
SELL ZINC JUL @ 370 SL 373 TGT 367-365. MCX
Observations
Zinc trading range for the day is 363.9-374.5.
Zinc dropped as China's zinc production in May rose 9.40% year-on-year to 64,000 metric tons.
However downside seen limited supported by signs of strength in the manufacturing sector.
Japan's Mitsui Mining and Smelting plans to produce 108,200 metric tons of refined zinc in the first half of 2026/27, up 3.2% from a year ago.
