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Aluminium

BUY ALUMINIUM APR @ 362 SL 359 TGT 365-368. MCX

Observations

Aluminium trading range for the day is 339.8-384.8.

Aluminium dropped as signals of resorted vessel flows through the Strait of Hormuz improved the outlook form key suppliers.

Iran declares passage for commercial vessels via Hormuz open for remaining ceasefire period

Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange fell 0.8% from last Friday.

Copper

BUY COPPER APR @ 1265 SL 1255 TGT 1275-1285. MCX

Observations

Copper trading range for the day is 1248.1-1294.7.

Copper rose as signals of restored trade through the Strait of Hormuz improved the outlook of manufacturing activity.

Physical demand had already been supported by China as firms enter their restocking season.

Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 9.8% from last Friday.

Zinc

BUY ZINC APR @ 337 SL 334 TGT 340-342. MCX

Observations

Zinc trading range for the day is 334.4-346.2.

Zinc dropped on profit booking after support seen reports Strait of Hormuz was open commercial vessels

Pressure seen amid growing worries about the global economic impact of the war in Iran fueled broad losses.

Zinc inventories in warehouses monitored by the Shanghai Futures Exchange rose 0.8% from last Friday.