Buy Aluminium APR @ 364 SL 361 TGT 367-370. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM APR @ 364 SL 361 TGT 367-370. MCX
Observations
Aluminium trading range for the day is 360.6-370.2.
Aluminium gains as LME aluminium inventory continued to decline, with the latest level at 393,800 mt, reinforcing supply concerns.
\China's March aluminium imports rise 6.9% y/y, customs data shows
Aluminium stocks at three major Japanese ports fell to 279,800 metric tons at the end of March, down about 7.4% from the previous month
Copper
BUY COPPER APR @ 1260 SL 1250 TGT 1272-1282. MCX
Observations
\Copper trading range for the day is 1253.4-1280.8.
Copper prices lacked direction as investors waited for news on peace talks between US and Iran.
China March refined copper output climbs 8.7% y/y
Rio Tinto Q1 copper output rises 9% on Oyu Tolgoi ramp – up
Zinc
SELL ZINC APR @ 342 SL 345 TGT 339-336. MCX
Observations
Zinc trading range for the day is 335.8-348.6.
Zinc gained as support seen after LME zinc inventory fell by 3,475 mt to 107,525 mt, hitting a one-month low.
Inventories at the Shanghai Futures Exchange continue to decline, indicating tightening physical availability.
Global zinc market swings to surplus in February, ILZSG says
