Sell Aluminium APR @ 367 SL 370 TGT 364-362. MCX - Kedia Advisory
Aluminium
SELL ALUMINIUM APR @ 367 SL 370 TGT 364-362. MCX
Observations
Aluminium trading range for the day is 360.7-368.5.
Aluminium gained amid renewed concerns over supply disruptions from the Persian Gulf.
Gulf aluminium production falls 6% month – on – month in March due to war, IAI says
Global primary aluminium output in March rose 0.9% year-on-year to 6.302 million tons - IAI
Copper
SELL COPPER APR @ 1275 SL 1285 TGT 1265-1255. MCX
Observations
Copper trading range for the day is 1261.4-1278.8.
Copper lost ground as the Strait of Hormuz closed to marine traffic once more and a fragile ceasefire.
LME copper stocks meanwhile, remain near a 12-year high at just under 400,000 tons.
The Yangshan copper premium, remained strong at $69 a ton, despite easing from $74 a ton on April 14.
Zinc
SELL ZINC APR @ 342 SL 345 TGT 339-336. MCX
Observations
Zinc trading range for the day is 338.2-343.
Zinc gained amid concerns over near-term supply tightness.
Inventories at the Shanghai Futures Exchange continue to decline, indicating tightening physical availability.
The global zinc market swung to a surplus of 49,600 metric tons in February from a deficit of 21,900 tons in January – ILZSG
