Buy Aluminium MAY @ 246 SL 244 TGT 249-252. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 235.2-258.4.
Aluminum rose after China announced fresh support for its ailing property sector.
On-warrant LME stocks in Malaysian Port Klang continued to soar, extending concerns of uncertain supply
China's primary aluminium production in April rose 7.2% from a year earlier, official data showed
BUY ALUMINIUM MAY @ 246 SL 244 TGT 249-252. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 915-956.
Copper dropped on profit booking after prices rose as bets of higher demand in China magnified concerns of supply deficits.
Low copper availability hampered output forecasts for smelters in China, responsible for over half of global supply
Chile's Cochilco raises 2024, 2025 copper price estimates
BUY COPPER MAY @ 932 SL 927 TGT 938-942. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 269.1-282.9.
Zinc gains amid China’s recent stimulus measures for clues on future construction demand.
China's industrial production expanded by 6.7% year-on-year in April 2024, faster than a 4.5% growth in the previous month.
China's retail sales rose by 2.3% year-on-year in April 2024
BUY ZINC MAY @ 273 SL 270 TGT 276-279. MCX
