Buy Zinc Apr @ 247 SL 245 TGT 250-252. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 233.7-239.7.
Aluminium gains as falling LME aluminium stocks saw the cash-to-three-month discount at $1.23 a ton
LME aluminium inventories fell to the lowest since December 2023, driven by recent withdrawals
China's March aluminium imports jump 90% on – year
BUY ALUMINIUM APR @ 236 SL 234 TGT 239-242. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 826.3-847.1.
Copper surged as concerns of low supply were met with signs of traction in demand
China's March refined copper output jumps 8% y/y
Chile president says Codelco copper output to grow in 2024
BUY COPPER APR @ 836 SL 832 TGT 842-846. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 241.9-253.5.
Zinc dropped on profit booking amid worries about demand from China.
China's refined zinc production was 525,500 mt, an increase of 23,000 mt or 4.57% month-on-month.
U.S. Federal Reserve officials reiterated interest rates are likely to stay higher for longer.
BUY ZINC APR @ 247 SL 245 TGT 250-252. MCX
