Buy Aluminium May @ 233 SL 231 TGT 236-238. MCX - Kedia Advisory
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ALUMINIUM
Observation
Aluminium trading range for the day is 230.4-236.4.
Aluminium gains as China exported unwrought aluminum and aluminum semis in April, up 12.6% YoY
Aluminum inventory in Shanghai bonded zone was 38,300 tons, and the inventory in Guangdong bonded zone was 5,500 tons.
Supporting real estate and stimulating consumption still dominated the market.
BUY ALUMINIUM MAY @ 233 SL 231 TGT 236-238. MCX
COPPER
Observation
Copper trading range for the day is 848-866.8.
Copper gains as markets continued to assess near-term demand and concerns of supply deficits.
Data from China showed that imports of copper ore jumped by 11.8% from the previous year to 2.35 million tonnes in April
China's unwrought copper imports fell 7.6% in April from the prior month, customs data showed
BUY COPPER MAY @ 856 SL 852 TGT 862-866. MCX
ZINC
Observation
Zinc trading range for the day is 253.4-262.6.
Zinc gains as some positive signs were seen in China's overall trade data.
Swedish mining group Boliden will restart production at its Tara zinc mine in Ireland
The global zinc market surplus widened to 40,100 metric tons in February from 12,300 tons in January
BUY ZINC MAY @ 257 SL 254 TGT 260-262. MCX
