Buy Zinc May @ 251 SL 249 TGT 253-255. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM MAY @ 236 SL 234 TGT 238-240. MCX
OBSERVATIONS
Aluminium trading range for the day is 229.9-243.7.
Aluminium gains after the U.S. and China agreed to significantly reduce tariffs
China will lower its levies on U.S. imports from 125% to 10%—a move widely seen as a major step toward easing bilateral trade tensions.
Global primary aluminium output in March rose 2.3% year on year to 6.227 million tonnes
Copper
BUY COPPER MAY @ 849 SL 845 TGT 854-858. MCX
OBSERVATIONS
Copper trading range for the day is 845.7-858.3.
Copper pared gains on profit booking after prices gained amid easing US-China trade tensions.
At the same time, robust ore production from South America added to concerns of oversupply.
ICSG recently doubled its forecast for this year’s surplus to nearly 300,000 tonnes.
Zinc
BUY ZINC MAY @ 251 SL 249 TGT 253-255. MCX
OBSERVATIONS
Zinc trading range for the day is 248.2-257.
Zinc gains following the announcement of a temporary deal between US and China to reduce tariffs.
The U.S. will cut extra tariffs it imposed on Chinese imports in April this year to 30% from 145%.
Global refined zinc demand is forecast to rise by 1% to 13.64 million tons this year
