Sell Aluminum Jul @ 338 SL 341 TGT 335-332. MCX - Kedia Advisory
Aluminium
SELL ALUMINIUM JUL @ 338 SL 341 TGT 335-332. MCX
Observations
Aluminium trading range for the day is 330.5-343.5.
Aluminium prices gained as supply and risk concerns rose after new tests to the fragile U.S.-Iran ceasefire.
Japan aluminium buyers agree to pay Q3 premiums of $395 per ton, as much as 13% higher from the previous quarter.
Further, continuing outflows from stocks in the LME-registered warehouses provided support.
Copper
SELL COPPER JUL @ 1270 SL 1280 TGT 1260-1250. MCX
Observations
Copper trading range for the day is 1245.8-1293.
Copper fell after the escalation in the Middle East war strengthened the dollar and hampered the outlook on global manufacturing.
The US and Iran exchanged attacks, prompting Washington to block Iranian energy sales and President Trump to label the current ceasefire as invalid.
World Bank projects China's economic growth to slow to 4.4% in 2026 and 4.3% in 2027, citing a prolonged property market downturn.
Zinc
SELL ZINC JUL @ 370 SL 373 TGT 367-365. MCX
Observations
Zinc trading range for the day is 364.5-373.1.
Zinc gained supported by tight near-term supply conditions.
Prices gained supported by signs of strength in the manufacturing sector.
China's zinc production in May rose 9.40% year-on-year to 64,000 metric tons.
