Sell Aluminum Jul @ 340 SL 343 TGT 337-335 MCX - Kedia Advisory
Aluminium
SELL ALUMINIUM JUL @ 340 SL 343 TGT 337-335. MCX
Observations
Aluminium trading range for the day is 331.4-349.6.
Aluminium prices fell as EGA said it had restarted its alumina refinery in the United Arab Emirates.
Pressure also seen driven by an easing of Middle East tensions and optimism over returning supplies.
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange fell 4.8% from last Friday.
Copper
SELL COPPER JUL @ 1295 SL 1305 TGT 1285-1275. MCX
Observations
Copper trading range for the day is 1281.7-1309.9.
Copper gains supported by a weak dollar and easing fears around a rash of tit-for-tat strikes between the U.S. and Iran.
China's central bank pledges to maintain accommodative policy amid weak demand, external shocks
Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 18.3% from last Friday.
Zinc
SELL ZINC JUL @ 378 SL 381 TGT 375-372. MCX
Observations
Zinc trading range for the day is 370.6-381.2.
Zinc prices gained after reports a fire broke out in a sulphuric acid production unit at a South Korean zinc smelter.
Support also seen supported by tight near-term supply conditions.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange rose 0.6% from last Friday.
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