IGI Logo

ALUMINIUM

SELL ALUMINIUM JUL @ 250 SL 252 TGT 248-246. MCX

OBSERVATIONS

Aluminium trading range for the day is 247.1-250.7.

Aluminium dropped amid worries about economic slowdown and demand growth caused by Trump’s tariffs.

Inventories in warehouses monitored by the Shanghai Futures Exchange rose by 9.1% from last Friday.

Global primary aluminium output rose 1.5% year-on-year in May to 6.245 million tonnes, IAI said.

COPPER

SELL COPPER JUL @ 886 SL 890 TGT 880-876. MCX

OBSERVATIONS

Copper trading range for the day is 874.5-890.7.

Copper slipped as renewed global trade tensions dampened risk appetite.

U.S. President Donald Trump's promised 50% copper tariffs are said to include all refined metal,

Bloomberg reported. Comex copper speculators raise net long position by 4,743 contracts to 36,287 in week to July 8 - CFTC

ZINC

SELL ZINC JUL @ 259 SL 261 TGT 257-255. MCX

OBSERVATIONS

Zinc trading range for the day is 255.7-260.9.

Zinc dropped as investors assessed the impact of trade talks between the U.S. and its major partners.

Zinc inventories in warehouses monitored by the Shanghai Futures Exchange rose 10.20% from last Friday

Production at some smelters in South China was affected by heavy rain.