Buy Zinc Apr @ 242 SL 240 TGT 245-248. MCX - Kedia Advisory
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Aluminium
Observations
Aluminium trading range for the day is 222.1-225.9.
Aluminium dropped as China's aluminium output was 3.555 million mt in March, up 4.19% YoY.
The first batch of production resumption may be completed in mid-April, boosting production in April
Goldman Sachs lifts China 2024 growth forecast to 5.0%
BUY ALUMINIUM APR @ 222 SL 220 TGT 225-227. MCX
Copper
Observations
Copper trading range for the day is 810.8-823.2.
Copper prices edged lower on weak consumer inflation data in China and a firm dollar.
Data showed China's consumer inflation cooled more than expected in March
SHFE will begin restrictions on the maximum intraday position opening volumes for the copper contract from April 12.
BUY COPPER APR @ 815 SL 810 TGT 822-828. MCX
Zinc
Observations
Zinc trading range for the day is 239.5-245.9.
Zinc gains propelled by increasing conviction that the global manufacturing slump has bottomed out.
Data showed that China's refined zinc production was 525,500 mt, an increase of 4.57% month-on-month
Fitch Ratings revised China’s sovereign credit outlook from stable to negative
BUY ZINC APR @ 242 SL 240 TGT 245-248. MCX
