Sell Aluminium May@ 232 SL 234 TGT 230-228. MCX - Kedia Advisory
ALUMINIUM
Observation
Aluminium trading range for the day is 230.4-236.4.
Aluminum dropped after LME data came in to show an 88% jump in inventory.
Aluminium LME stocks rose by 424,000 metric tons to 903,850 tons, the highest since January 2022.
Smelters in Yunnan, remained subject to production curbs due to the annual dry season.
SELL ALUMINIUM MAY @ 232 SL 234 TGT 230-228. MCX
COPPER
Observation
Copper trading range for the day is 848-866.8.
Copper surged as markets continued to gauge the extent of supply deficits.
Copper production from Codelco, slid 10.1% from a year earlier to total 107,300 metric tons in March
Copper inventories in the domestic bonded zones decreased 1,200 mt from April 30 to 81,200 mt.
SELL COPPER MAY @ 872 SL 876 TGT 866-862. MCX
ZINC
Observation
Zinc trading range for the day is 253.4-262.6.
Zinc gains buoyed by positive trade data from China.
The improved global economic outlook fueled momentum after soft labor data from the US
The decision by Swedish mining giant Boliden to resume production at its Tara zinc mine
SELL ZINC MAY @ 263 SL 266 TGT 260-257. MCX
