Sell Copper JUL @ 1275 SL 1285 TGT 1265-1255. MCX - Kedia Advisory
ALUMINIUM
SELL ALUMINIUM JUL @ 334 SL 336 TGT 332-330. MCX
Observations
Aluminium trading range for the day is 324.6-342.8.
Aluminium gains as inventories in SHFE warehouses fell 2.7%
However upside seen limited with the Middle East war risk premium fading as a fragile peace in the region continues to hold.
Markets increasingly expect the U.S. Federal Reserve to raise interest rates this year, amid persistent inflationary pressures.
COPPER
SELL COPPER JUL @ 1275 SL 1285 TGT 1265-1255. MCX
Observations
Copper trading range for the day is 1260.2-1274.2.
Copper prices gained as copper stocks on the LME continued to decrease.
Shanghai Futures Exchange copper stocks fell 5.7% from last week to 135,732 tons, the lowest since December.
Global refined copper market showed a 145,000 deficit in April, compared with a 23,000 metric tons surplus in March – ICSG
ZINC
SELL ZINC JUL @ 360 SL 363 TGT 357-355. MCX
Observations
Zinc trading range for the day is 350.6-363.2.
Zinc gained supported by tight near-term supply conditions.
The global zinc market surplus narrowed to 26,500 metric tons in April from 56,300 tons in March - ILZSG
Zinc inventories in warehouses monitored by the SHFE fell 0.1% from last release on Jun 18.
