Buy Copper MAY @ 1275 SL 1265 TGT 1285-1295. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM MAY @ 367 SL 363 TGT 370-373. MCX
Observations
Aluminium trading range for the day is 365.6-371.4.
Aluminium gains amid strong manufacturing activity data from China supported the demand backdrop.
China General Manufacturing PMI climbed to 52.2 in April 2026 from 50.8 in March, above the expected 51.
BOFA brought forward its $4,000 per metric ton aluminium price forecast to the fourth quarter of 2026 from the second quarter of 2027.
COPPER
BUY COPPER MAY @ 1275 SL 1265 TGT 1285-1295. MCX
Observations
Copper trading range for the day is 1272.1-1292.1.
Copper gains as manufacturing activity in China expanded in April at its fastest pace since the end of 2020.
LME copper stocks have more than doubled since early January.
Copper output in Chile fell 9.04% year-on-year in March.
ZINC
BUY ZINC MAY @ 342 SL 340 TGT 345-347. MCX
Observations
Zinc trading range for the day is 339.5-348.1.
Zinc steadied as Boliden’s plan to resume production at Garpenberg in Q2 helped ease some supply concerns.
LME inventories continued to fall, while the narrowing Cash-3M contango signaled a firmer market structure.
Bank of America lifted its 2026 zinc price forecast by 12.7% to $3,309 a metric ton.
