Sell Aluminum Jul @ 346 SL 349 TGT 343-340. MCX - Kedia Advisory
Aluminium
SELL ALUMINIUM JUL @ 346 SL 349 TGT 343-340. MCX
Observations
Aluminium trading range for the day is 341.1-346.7.
Aluminium gains amid supply concerns and LME stocks were at their lowest levels since 2022.
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange fell 4.8% from last Friday
EGA said it had restarted its alumina refinery in the United Arab Emirates after a 3-1/2-month outage.
Copper
SELL COPPER JUL @ 1312 SL 1320 TGT 1302-1294. MCX
Observations
Copper trading range for the day is 1286.3-1351.1.
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 @ 379 SL 382 TGT 376-374. MCX
Observations
Zinc trading range for the day is 373.2-380.4.
Zinc gains supported by tight near-term supply conditions.
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.
