Sell Aluminum Jul @ 343 SL 346 TGT 340-337 MCX - Kedia Advisory
Aluminium
SELL ALUMINIUM JUL @ 343 SL 346 TGT 340-337. MCX
Observations
Aluminium trading range for the day is 338-346.8.
Aluminium dropped as EGA said it had restarted its alumina refinery in the United Arab Emirates after a 3-1/2-month outage.
Pressure also seen driven by an easing of Middle East tensions and optimism over returning supplies.
EGA said its Al Taweelah refinery's output of alumina was expected to ramp up to 50% of capacity "within days"
Copper
SELL COPPER JUL @ 1315 SL 1325 TGT 1305-1295. MCX
Observations
Copper trading range for the day is 1298.9-1324.3.
Copper dropped as investors weighed gloomy Chinese macroeconomic conditions with lower U.S. consumer inflation data.
The LME cash-to-3-month spread widened into a deeper contango, with cash trading discounted below the 3-month price by over $40–$50/t.
Combined LME, COMEX, and SHFE copper inventories reached 1,144,966 tonnes at the end of May 2026, up 54% from the end of 2025.
Zinc
SELL ZINC JUL @ 377 SL 380 TGT 374-370. MCX
Observations
Zinc trading range for the day is 369.6-381.8.
Zinc edged lower after disappointing economic data in China, but supply concerns and the Middle East conflict helped limit losses.
GDP growth in China cooled to a 3.5-year low, missing forecasts on weak domestic demand, official data showed.
Glencore’s Kazzinc facility in Kazakhstan is operating at reduced capacity, while Nexa’s Cajamarquilla smelter in Peru was temporarily suspended.
