SELL COPPER JUL @ 900 SL 905 TGT 895-890. MCX - Kedia Advisory
ALUMINIUM
SELL ALUMINIUM JUL @ 250 SL 252 TGT 248-246. MCX
OBSERVATIONS
Aluminium trading range for the day is 247.5-251.3.
Aluminium prices fell as China’s official manufacturing PMI showed another month of factory sector contraction.
Global supply concerns persist with European output constrained by sanctions against Russia.
On-warrant LME stocks rose year-to-date, but combined LME-SHFE inventories still 60% below last year.
COPPER
SELL COPPER JUL @ 900 SL 905 TGT 895-890. MCX
OBSERVATIONS
Copper trading range for the day is 892.4-908.6.
Copper slipped on profit booking after recent gains driven by tight supply and tariff speculation.
Traders diverted copper shipments to the US ahead of possible 10% import tariffs this year.
LME and SHFE inventories dropped sharply, with available stocks down 76% since mid-February.
ZINC
SELL ZINC JUL @ 259 SL 261 TGT 257-255. MCX
OBSERVATIONS
Zinc trading range for the day is 256-259.6.
Zinc dropped as dollar rises as strong jobs report eases labor market fears.
A private survey showed Chinese factory activity surprisingly returned to growth during June’s trade thaw.
Deliverable zinc at the Shanghai Futures Exchange jumped by 800 tonnes on the last week of June
