Buy Zinc Jun @ 260 SL 257 TGT 263-265. MCX - Kedia Advisory
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Aluminium
OBSERVATIONS
Aluminium trading range for the day is 238.5-244.3.
Aluminium prices rebounded on optimism that central bank rate cuts will help economic growth
Gas shortages drove mining giant Rio Tinto to declare force majeure on alumina cargoes from its Australian refineries, raising concerns about supply.
Shortages of alumina, emerged recently because of lower output from China and disruption to Rio Tinto's Australian exports.
BUY ALUMINIUM JUN @ 240 SL 237 TGT 243-245. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 868.2-889.8.
Copper gains buoyed by a softer U.S. dollar and signs of better demand China.
The dollar eased on renewed bets of a U.S. Federal Reserve easing cycle expected this year.
Copper buyers in China resumed some activities that had been dampened by a surge in prices last month.
BUY COPPER JUN @ 878 SL 873 TGT 884-888. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 257.3-264.5.
Zinc gains supported by a softer dollar and prospects of earlier U.S. rate cuts amid weak economic data.
The global zinc market surplus fell to 52,300 metric tons in March from 66,800 tons in February – ILZSG.
China's refined zinc output was 504,600 mt, a month-on-month decrease of 20,900 mt or 3.99%.
BUY ZINC JUN @ 260 SL 257 TGT 263-265. MCX
