Sell Aluminium May @ 238 SL 240 TGT 235-233. MCX - Kedia Advisory
ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 230.2-245.
Aluminium dropped on profit booking after prices gained 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
SELL ALUMINIUM MAY @ 238 SL 240 TGT 235-233. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 829.8-851.8.
Copper retreated on profit-taking by funds and hedging by producers.
China's refined copper production in March rose 7.9% from the prior year
Copper demand to boom as new technology drives power consumption, Trafigura says
SELL COPPER MAY @ 843 SL 847 TGT 838-834. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 243.4-250.6.
Zinc dropped on profit booking after prices gained amid 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.
SELL ZINC MAY @ 249 SL 252 TGT 246-244. MCX
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Buy Zinc Above 259 SL. BELOW 256 TGT 263/264 - Axis Securities Ltd
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