Sell Zinc Jun @ 256 SL 258 TGT 254-252. MCX - Kedia Advisory
Aluminium
SELL ALUMINIUM JUN @ 239 SL 241 TGT 237-235. MCX
OBSERVATIONS
Aluminium trading range for the day is 233.1-241.5.
Aluminium rises on speculation of fresh import tariffs after Trump’s new measures.
Trump said he planned to increase tariffs on imported aluminium to 50% from 25%.
The U.S. Midwest aluminium premium jumped 54% from Friday to $0.58/lb or $1,279 a ton.
Copper
SELL COPPER JUN @ 870 SL 875 TGT 865-860. MCX
OBSERVATIONS
Copper trading range for the day is 854.4-889.4.
Copper gained as investors braced for the possibility of US tariffs on copper imports.
US copper prices are now trading at more than a 10% premium to London prices, as traders price in the risk of new duties.
Copper output in Chile, rose 13.5% year-on-year in April to 463,639 metric tons.
Zinc
SELL ZINC JUN @ 256 SL 258 TGT 254-252. MCX
OBSERVATIONS
Zinc trading range for the day is 248.6-257.8.
Zinc rose on a weaker dollar, though U.S.-China trade tensions capped further price gains.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange fell 4.9% from last Friday
China’s May manufacturing PMI stayed in contraction, increasing stimulus expectations amid trade pressure.
