Buy Zinc May @ 259 SL 257 TGT 262-264. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 231.7-241.3.
Aluminium prices gains 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 @ 236 SL 234 TGT 239-241. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 854.5-886.1.
Copper gains driven by supply concerns highlighted by BHP Group's bid for Anglo American
Global copper market set for 162,000 ton surplus in 2024 – ICSG
China's CMOC Q1 copper production jumps 123%
BUY COPPER MAY @ 870 SL 866 TGT 875-880. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 249.9-266.9.
Zinc 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 @ 259 SL 257 TGT 262-264. MCX
