Sell Copper Aug @ 1340 SL 1350 TGT 1330-1320. MCX - Kedia Advisory
Aluminium
SELL ALUMINIUM AUG @ 343 SL 346 TGT 340-337. MCX
Observations
Aluminium trading range for the day is 339.3-344.7.
Aluminium dropped following a temporary de-escalation of US-Iran tensions.
Aluminium stocks on the London Metal Exchange have slumped to their lowest this century.
Restart of Emirates Global Aluminium’s Al Taweelah alumina refinery following a three-and-a-half-month outage.
Copper
SELL COPPER AUG @ 1340 SL 1350 TGT 1330-1320. MCX
Observations
Copper trading range for the day is 1328.1-1346.1.
Copper firmed up buoyed by a nascent halt in fighting between the U.S. and Iran and oil market relief.
Antofagasta resumes production at Los Pelambres copper mine after rain and power outage
China's national social copper inventory increased by 5,300 mt WoW to 117,200 mt.
Zinc
SELL ZINC AUG @ 381 SL 384 TGT 378-375. MCX
Observations
Zinc trading range for the day is 375.9-382.5.
Zinc gains as a zinc smelter in central China plans maintenance for about half a month
Support also seen amid tight near-term supply conditions.
China's zinc production in May rose 9.40% year-on-year to 64,000 metric tons.
