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ALUMINIUM

BUY ALUMINIUM JUN @ 235 SL 233 TGT 237-239. MCX

OBSERVATIONS

Aluminium trading range for the day is 234.8-237.6.

Aluminium dropped as domestic seasonal weakness and trade uncertainties are exerting dual pressure.

WBMS data showed a Q1 aluminium surplus of 538,700 tons amid strong global output.

China raised aluminium production 3.4% YoY Jan–Apr; April output rose 2.2% globally.

COPPER

BUY COPPER JUN @ 857 SL 853 TGT 863-869. MCX

OBSERVATIONS

Copper trading range for the day is 854.4-869.2.

Copper fell as surplus widened to 289,000 tons amid strong South American output.

Copper market in 17,000 metric tons surplus in Mar 2025 – ICSG

COMEX copper stocks surged 87% since February, nearing LME levels for first time since 2022.

ZINC

BUY ZINC JUN @ 250 SL 248 TGT 252-254. MCX

OBSERVATIONS

Zinc trading range for the day is 247.5-256.3.

Zinc prices ease as demand outlook wavers despite tight supply

Nyrstar to cut 2025 smelter output by 25% amid low ore availability and margins.

SHFE zinc inventories dropped 4.9%, with maintenance and tight spot supply supporting prices.