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ALUMINIUM

OBSERVATIONS

Aluminium trading range for the day is 230.2-245.

Aluminium 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 climbed as supply-side issues continued to support prices.

Cobre Panama, was forced to stop operations in December, leading to a deficit in the global supply of copper concentrate this year.

Copper prices benefited from a pullback in the dollar as US business activity cooled in April

SELL COPPER MAY @ 848 SL 852 TGT 843-840. MCX

ZINC

OBSERVATIONS

Zinc trading range for the day is 243.4-250.6.

Zinc 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