Buy Zinc May @ 250 SL 248 TGT 252-254. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM MAY @ 235 SL 233 TGT 237-239. MCX
OBSERVATIONS
Aluminium trading range for the day is 232.3-238.9.
Aluminium gains supported by a weakening greenback amid growing concerns over US-China trade developments.
Beijing expressed confidence in meeting its full-year growth target of around 5% but refrained from announcing new stimulus.
Traders are also watching China’s April manufacturing data for signs of any impact from US tariffs on Chinese goods.
COPPER
BUY COPPER MAY @ 852 SL 848 TGT 858-862. MCX
OBSERVATIONS
Copper trading range for the day is 845.6-864.4.
Copper rose amid high demand from China and concerns about tight nearby regional supply, and a stronger yuan currency.
The Yangshan copper premium, was last at $93 per ton, its highest price since December 2023.
Data showed a 32% weekly drop in copper inventories in warehouses monitored by the Shanghai Futures Exchange.
Zinc
BUY ZINC MAY @ 250 SL 248 TGT 252-254. MCX
OBSERVATIONS
Zinc trading range for the day is 248-254.4
Zinc gains as investors tracked developments in the U.S.-China negotiations and a bunch of U.S. economic data.
U.S. President Donald Trump said progress has been made in talks with China.
In refined zinc, global demand is forecast to rise by 1% to 13.64 million tons this year.
