Sell Zinc Jul @ 260 SL 262 TGT 257-255. MCX - Kedia Advisory
ALUMINIUM
SELL ALUMINIUM JUL @ 252 SL 254 TGT 250-248. MCX
OBSERVATIONS
Aluminium trading range for the day is 247.5-252.5.
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 @ 908 SL 913 TGT 903-900. MCX
OBSERVATIONS
Copper trading range for the day is 895.7-910.7.
Copper prices gained as worries over global supply shortages mounted.
Traders redirected shipments to the US ahead of possible tariffs, tightening supply elsewhere.
LME copper stocks dropped again last week to 91,275 tonnes, a near 2-year low.
ZINC
SELL ZINC JUL @ 260 SL 262 TGT 257-255. MCX
OBSERVATIONS
Zinc trading range for the day is 253.8-261.2.
Zinc prices gained as a stronger yuan and a weaker US dollar offset global trade tension worries.
China’s official PMI stayed in contraction, showing lingering factory weakness.
LME zinc inventories continue to decline to multi-year lows, indicating healthy overseas demand.
