Sell Aluminum Jul @ 345 SL 348 TGT 342-340. MCX - Kedia Advisory
Aluminium
SELL ALUMINIUM JUL @ 345 SL 348 TGT 342-340. MCX
Observations
Aluminium trading range for the day is 338.8-348.4.
Aluminium rose amid supply concerns and LME- stocks were at their lowest levels since 2022.
China’s June aluminium exports hit record high of 711,000 tons
Japan's June aluminium stocks down 7.8% m/m
Copper
SELL COPPER JUL @ 1315 SL 1325 TGT 1305-1295. MCX
Observations
Copper trading range for the day is 1290.6-1330.6.
Copper gained on signs of firmer demand and shortages in China, as well as supply worries after more attacks in the Middle East.
Copper stocks in LME warehouses have dropped more than 20% since the end of May to a four-month low of 305,200 tons.
Chile's copper output from major producers fell sharply in May, with Codelco’s production down 18.3% YoY to 106,300 metric tons.
Zinc
SELL ZINC JUL @ 378 SL 382 TGT 374-370. MCX
Observations
Zinc trading range for the day is 372-381.
Zinc prices gained supported by tight near-term supply conditions and by signs of strength in the manufacturing sector.
China's economy is facing a structural mismatch between strong supply and weak demand, its central bank said.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange rose 0.6% from last Friday.
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