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ALUMINIUM

BUY ALUMINIUM MAY @ 236 SL 234 TGT 238-240. MCX

OBSERVATIONS

Aluminium trading range for the day is 234.8-240.6.

Aluminium fell amid rising U.S. debt concerns and weakening global economic outlook

Global primary aluminium output in April rose 2.2% year on year to 6.033 million tonnes

China's Jan–Apr aluminium production jumped 3.4%, pressuring market sentiment further

COPPER

BUY COPPER MAY @ 856 SL 852 TGT 862-866. MCX

OBSERVATIONS

Copper trading range for the day is 849-867.6.

Copper rises on short covering after demand fears and surplus hit prices

Industrial inputs pulled back after the Federal government got closer to passing a bill that would increase its budget deficit.

International Copper Study Group doubling its forecast on this year's surplus to nearly 300,000 tonnes.

ZINC

BUY ZINC MAY @ 259 SL 257 TGT 261-263. MCX

OBSERVATIONS

Zinc trading range for the day is 258.1-262.5.

Zinc rises as global surplus shrinks to 23,700 tons in March from 75,900 in Feb.

Support also seen as macro-driven risk aversion eased as Sino-US trade tensions temporarily subsided

However upside seen limited amid persistent concerns over global manufacturing and easing supply constraints..