Buy Aluminium APR @ 365 SL 362 TGT 368-370. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM APR @ 365 SL 362 TGT 368-370. MCX
Observations
Aluminium trading range for the day is 362.4-370.2.
Aluminium dropped on profit booking after prices gained as Washington said it would impose a maritime blockade of Iran
The Gulf region accounted for about 9% of global aluminium supply before this year's U.S.-Israeli attacks on Iran.
JP Morgan sees aluminium prices averaging around $3,500 per ton over second half of 2026
Copper
BUY COPPER APR @ 1265 SL 1255 TGT 1275-1285. MCX
Observations
Copper trading range for the day is 1221.9-1300.9.
Copper rallied as support seen after China has announced a ban on sulfuric acid exports starting in May 2026.
Supporting copper price was also firm China demand with the Yangshan copper premium, jumping by 76% week-on-week to $74.
China's imports of unwrought copper and copper products declined 10.9% to 416,000 metric tons in March
Zinc
BUY ZINC APR @ 333 SL 332 TGT 336-339. MCX
Observations
Zinc trading range for the day is 331.4-339.6.
Zinc prices rose due to softer dollar amid hopes of eased US-Iran tension provided support.
Prices also gained supported by improving industrial activity and signs of short-term supply tightness.
China's central bank pledged to maintain appropriately loose monetary policy.
