Sell Zinc Jul @ 259 SL 261 TGT 257-255. MCX - Kedia Advisory
ALUMINIUM
SELL ALUMINIUM JUL @ 250 SL 252 TGT 248-246. MCX
Observations
Aluminium trading range for the day is 246.8-250.2.
Aluminium prices rose as concerns over raw material supply resurfaced.
Combined LME and SHFE aluminium inventories remain about 60% lower compared to the same time last year.
China's aluminium production rose by 5.0 % to 3.83 million metric tons in May from a year earlier.
COPPER
SELL COPPER JUL @ 898 SL 903 TGT 893-888. MCX
Observations
Copper trading range for the day is 888.2-898.2.
Copper gains amid mounting concerns over tightening global supply.
LME inventories fell again last week, dropping to 91,275 metric tons—the lowest level in nearly two years.
SHFE showed copper stockpiles declined by 19.11% to 81,550 metric tons, hitting a one-month low.
ZINC
SELL ZINC JUL @ 259 SL 261 TGT 257-255. MCX
Observations
Zinc trading range for the day is 256.4-262.
Zinc dropped as investors digested mixed factory data from China.
China’s manufacturing activity shrank for a third straight month in June, though at a slower pace than previous months.
Inventories in warehouses monitored by the Shanghai Futures Exchange gained by 1.8% from last Friday.
