SELL ZINC JUL @ 384 SL 387 TGT 381-378. MCX - Kedia Advisory
Aluminium
SELL ALUMINIUM JUL @ 349 SL 352 TGT 346-343. MCX
Observations
Aluminium trading range for the day is 341.9-351.5.
Aluminium dropped on profit booking after prices as dollar index appreciated to 101.3 on, the highest level in about three weeks.
However downside seen limited amid supply concerns and LME stocks were at their lowest levels since 2022.
Alcoa lowered its 2026 alumina production guidance by 200,000–300,000 tonnes to 9.5–9.6 million tonnes.
Copper
SELL COPPER JUL @ 1325 SL 1335 TGT 1315-1305. MCX
Observations
Copper trading range for the day is 1296.1-1358.1.
Copper dropped on profit booking after oil prices hit their highest in more than seven weeks on escalating hostilities in the ME.
Thin inventories were supporting copper prices, however, with available LME stocks of 107,850 tons the lowest since January.
The cash LME copper contract was trading at a $4.70 premium over the three-month forward, indicating tight near-term supply.
Zinc
SELL ZINC JUL @ 384 SL 387 TGT 381-378. MCX
Observations
Zinc trading range for the day is 378.2-389.
Zinc pared gains on profit booking after prices gained supported by signs of strength in the manufacturing sector.
GDP growth in China cooled to a 3.5-year low, missing forecasts on weak domestic demand, official data showed.
China's zinc production in May rose 9.40% year-on-year to 64,000 metric tons.
