Buy Zinc May @ 251 SL 249 TGT 254-256. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 232.7-239.3.
Aluminium settled flat as support seen on supply concerns.
LME aluminium stocks reduced to 171,200 tonnes, representing the weakest level since August 2022.
China's March aluminium imports jump 90% on – year
BUY ALUMINIUM MAY @ 234 SL 232 TGT 236-238. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 850.1-866.3.
Copper surged as growing supply worries and bullish long-term demand spurred a fresh round of speculative buying.
Persistent issues in copper ore mining threatened inputs for smelters and treatment plants
Copper inventories in warehouses monitored by the SHFE fell 4.2% from last Friday, the exchange said.
BUY COPPER MAY @ 856 SL 852 TGT 860-866. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 245.7-259.7.
Zinc dropped on profit booking after prices gained amid fund buying and worries about supply.
Research agency BMI, said refined zinc production growth will continue to rebound in 2024.
The anticipated resumption of Glencore’s Nordenham smelter and Norway’s Odda mine expansion later in the year is set to bolster global zinc production.
BUY ZINC MAY @ 251 SL 249 TGT 254-256. MCX
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