Sell Zinc Jun @ 254 SL 256 TGT 252-250. MCX - Kedia Advisory
ALUMINIUM
SELL ALUMINIUM JUN @ 246 SL 248 TGT 244-242. MCX
OBSERVATIONS
Aluminium trading range for the day is 242.7-246.7.
Aluminium falls amid global growth concerns and escalating Israel-Iran geopolitical tensions.
US physical premiums drop 7% on speculation of possible tariff cuts on Canadian imports.
China’s stronger retail sales ease fears, limiting bearish sentiment on demand outlook.
COPPER
SELL COPPER JUN @ 882 SL 886 TGT 876-872. MCX
OBSERVATIONS
Copper trading range for the day is 874.3-881.9.
Copper settled down as the market focused on developments in the Israel-Iran conflict.
Copper output in Peru, rose 7.91% year-on-year in April to 220,261 metric tons.
Available inventories have plunged 80% this year, partly driven by a surge in US imports ahead of anticipated tariffs.
ZINC
SELL ZINC JUN @ 254 SL 256 TGT 252-250. MCX
OBSERVATIONS
Zinc trading range for the day is 249.3-256.1.
Zinc gains as the global zinc market surplus fell to 16,000 metric tons in April from 23,400 tons in March.
Teck’s Red Dog Mine output drops 20% in Q1 as depletion nears.
Nyrstar to slash zinc output by 25% in 2025 due to low ore treatment profitability.
