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ALUMINIUM

OBSERVATIONS

Aluminium trading range for the day is 237.3-253.1.

Aluminium dropped triggered by concerns that high interest rates are curbing metals demand

A continued inflow of "wider money" into metals, providing further support for aluminium.

Shortages of alumina, emerged recently because of lower output from China and disruption to Rio Tinto's Australian exports.

BUY ALUMINIUM JUN @ 242 SL 240 TGT 244-246. MCX

COPPER

OBSERVATIONS

Copper trading range for the day is 856.9-906.1.

Copper dropped amid higher inventories in China amid strong output and soft physical demand.

UBS expects copper prices to reach $11,500/mt by year-end, $12,000/mt or above by mid-2025

Latest supply-demand estimates point to a roughly 390,000 metric tons (mt) copper deficit for both this year and 2025 - UBS.

BUY COPPER JUN @ 873 SL 868 TGT 880-885. MCX

ZINC

OBSERVATIONS

Zinc trading range for the day is 267.1-276.1.

Zinc prices dropped on profit booking after prices rose as traders continue to assess the demand outlook.

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 @ 270 SL 267 TGT 273-275. MCX