Buy Zinc Jun @ 366 SL 363 TGT 369-372. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM JUN @ 386 SL 383 TGT 389-392. MCX
Observations
Aluminium trading range for the day is 382-390.6.
Aluminium prices gained amid worries about reduced supply from the Gulf region.
LME available aluminium stocks fell to a one-year low of 259,625 tons.
China’s industrial profits in April grew at the fastest pace since November 2023
Copper
BUY COPPER JUN @ 1352 SL 1342 TGT 1362-1370. MCX
Observations
Copper trading range for the day is 1336.6-1374.
Copper gains as the shortage of sulfur and sulfuric acid in Chile forced major refiners to cut capacity and lower supply.
However, upside seen limited as renewed tensions in the Middle East, fuelling inflation and slowdown concerns.
Depletion of available copper stocks in LME-registered warehouses continued, while COMEX copper stocks saw further inflows.
Zinc
BUY ZINC JUN @ 366 SL 363 TGT 369-372. MCX
Observations
Zinc trading range for the day is 360.9-372.9.
Zinc gained supported by tightening supply conditions following recent disruptions.
Support also seen amid a low inventories and mine closures, delays underpinned prices.
China's central bank will continue to implement an appropriately loose monetary policy, and strengthen financial support for expanding domestic demand.
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