Buy Aluminium APR @ 369 SL 366 TGT 372-375. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM APR @ 369 SL 366 TGT 372-375. MCX
Observations
Aluminium trading range for the day is 363.6-373.4.
Aluminium gains amid persistent global aluminium supply-side challenges driven by Middle East disruptions and tighter availability.
Commerzbank sees aluminium prices temporarily rising to almost $4,000 per ton if the Strait of Hormuz remains blocked until end of May.
JP Morgan expects aluminium prices to average about $3,500 a metric ton over the second half of 2026.
Copper
BUY COPPER APR @ 1270 SL 1260 TGT 1282-1292. MCX
Observations
Copper trading range for the day is 1248.2-1303.
Copper gained supported by worries about shortages of sulphur used to process metals.
Support also seen as the prospect of another round of talks between the United States and Iran to end the war boosted sentiment.
Citi says they mark-to-market 0–3-month copper price forecast to $13k/t
Zinc
BUY ZINC APR @ 337 SL 334 TGT 340-342. MCX
Observations
Zinc trading range for the day is 333.6-341.4.
Zinc gains as hopes of eased US-Iran tension provided support to the prices.
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.
