IGI Logo

ALUMINIUM

Observation

Aluminium trading range for the day is 232-242.6.

Aluminium gains aided by a weaker U.S. dollar and bullish demand outlook.

China's aluminium output was 3.515 million mt in April (30 days), up 4.98% YoY.

LME aluminium stocks surge to highest since October 2021

BUY ALUMINIUM MAY @ 236 SL 234 TGT 239-242. MCX

COPPER

Observation

Copper trading range for the day is 869.2-916.4.

Copper soared to a record-high amid increasing concerns of insufficient supply.

Copper producers and traders have been shipping more metal to US to profit from higher prices for CME futures compared with LME.

Peru copper output dips slightly in March to total 219,011 tons

BUY COPPER MAY @ 888 SL 883 TGT 894-898. MCX

ZINC

Observation

Zinc trading range for the day is 256.9-269.9.

Zinc dropped as China’s refined zinc production in May 2024 will increase by 26,800 mt.

The production resumption after maintenance and increase in output at smelters in Gansu, Xinjiang, Liaoning, Hunan, Henan and Sichuan.

Swedish mining giant Boliden to resume production at its Tara zinc mine.

SELL ZINC MAY @ 260 SL 2658 TGT 263-265. MCX