Buy Aluminium May @ 235 SL 233 TGT 237-239. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM MAY @ 235 SL 233 TGT 237-239. MCX
OBSERVATIONS
Aluminium trading range for the day is 231.6-240.8.
Aluminium dropped amid persistent concerns over global manufacturing and easing supply constraints.
China cut benchmark lending rates for the first time since October, and major state banks lowered deposit rates.
Global primary aluminium output in April rose 2.2% year on year to 6.033 million tonnes
COPPER
BUY MAY @ 858 SL 854 TGT 863-867. MCX
OBSERVATIONS
Copper trading range for the day is 849-866.2.
Copper settled flat as risks to manufacturing demand amplified the impact of ample copper supply.
Copper inventories in warehouses monitored by the SHFE fell 9% to 98,671 tons.
Stocks in the LME-registered warehouses lost 8% to 164,725 amid continuing inflows into the COMEX-owned warehouses.
ZINC
BUY ZINC MAY @ 257 SL 255 TGT 260-262. MCX
OBSERVATIONS
Zinc trading range for the day is 252.2-263.8.
Zinc dropped amid due to persisting uncertainty over U.S. tariffs.
The global zinc market surplus fell to 23,700 metric tons in March from 75,900 tons in February
Zinc inventories in warehouses monitored by SHFE fell 4.9% from last Friday, the exchange said.
