BUY COPPER MAY @ 1340 SL 1330 TGT 1350-1360. MCX
Aluminium
BUY ALUMINIUM MAY @ 385 SL 382 TGT 388-390. MCX
Observations
Aluminium trading range for the day is 381.9-391.3.
Aluminium dropped as inventories in SHFE warehouses rose 1.4% from last Friday.
Global primary aluminium output in April fell 2.1% year on year to 5.922 million tonnes - IAI
Aluminium stocks at three major Japanese ports fell to 249,500 metric tons at the end of April, down about 10.8% from the previous month
Copper
BUY COPPER MAY @ 1340 SL 1330 TGT 1350-1360. MCX
Observations
Copper trading range for the day is 1332.3-1360.3.
Copper steadied as investors weighed shifting headlines around U.S.-Iran peace talks.
China's refined copper production in April rose 1.60% year-on-year to 1.27 million metric tons.
LME available copper stocks at 10 – week low after massive cancellations
Zinc
BUY ZINC MAY @ 368 SL 365 TGT 371-374. MCX
Observations
Zinc trading range for the day is 367.3-372.7.
Zinc gains supported by tightening supply conditions following recent disruptions.
Zinc stocks on the LME are at 111,250 tons, equivalent to less than three days of global consumption.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange rose 1.5% from last Friday.
