Sell Zinc Jnu @ 262 SL 264 TGT 260-258. MCX - Kedia Advisory
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Aluminium
OBSERVATIONS
Aluminium trading range for the day is 230-239. Aluminium prices rose amid short covering and driven by supply tightness. The discount of the LME cash aluminium contract to the three-month contract expanded to $62.44 a ton Global primary aluminium output in April rose 3.3% year on year to 5.898 million tonnes
SELL ALUMINIUM JUN @ 237 SL 239 TGT 235-233. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 849.7-885.7. Copper prices bounced as the dollar tumbled after cooler-than-expected U.S. inflation data About a fifth of global copper smelting capacity was suspended in May, mostly for maintenance. Copper inventory remained at a four-year high of 336,964 tonnes in warehouses monitored by SHFE.
SELL COPPER JUN @ 870 SL 875 TGT 865-860. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 250.2-266.6. Zinc gains as dollar tumbled after data showed that consumer prices in May rose less than expected. China’s manufacturing PMI came in below market expectations, pointing to a contraction in manufacturing activity China's refined zinc output was 504,600 mt, a month-on-month decrease of 20,900 mt or 3.99%
SELL ZINC JUN @ 262 SL 264 TGT 260-258. MCX
